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SAFM

Sanderson Farms

$104.37

2.59 (2.54%)

07:56
09/16/18
09/16
07:56
09/16/18
07:56

Sanderson says initial assessment yields no significant damage to NC facilities

Sanderson Farms provided an update on the status of the company's facilities in North Carolina following landfall of Hurricane Florence and the related severe weather and flooding in the region. Joe Sanderson, Chairman and CEO of Sanderson Farms, said, "We are pleased to report we have not received any news of injury or loss of life among our employees and growers in the North Carolina area affected by this devastating storm. We will continue to assess the situation related to our processing plant, hatchery and feed mill in Kinston, North Carolina, and our processing plant and hatchery located in St. Pauls and Lumberton, North Carolina. An initial assessment indicated no significant damage to those facilities, and we are pleased that power has now been restored in Kinston. However, given the amount of rain those areas continue to receive, our assessment will continue through the week-end. Our live inventory and the assets of our independent poultry producers in the region comprise a significant portion of our operations. Given the logistical difficulties caused by flooding and impassable roads, assessments of damage to those facilities will also continue."

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    Nov

SAFM Sanderson Farms
$104.37

2.59 (2.54%)

08/24/18
08/24/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Netflix (NFLX) upgraded to Buy from Hold at SunTrust with analyst Matthew Thornton saying the pullback after the Q2 subscriber miss was driven in part by the interest in World Cup viewing. 2. Sanderson Farms (SAFM) upgraded to Overweight from Equal Weight at Stephens with analyst Farha Aslam citing the company's Q3 results and saying she believes weak chicken fundamentals are now priced into the shares. 3. Children's Place (PLCE) upgraded to Buy from Neutral at Monness Crespi analyst Jim Chartier saying the modest sell-off in shares following strong Q2 results provides a buying opportunity. 4. Mylan (MYL) upgraded to Outperform from In Line at Evercore ISI. 5. Embraer (ERJ) upgraded to Hold from Underperform at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/24/18
SPHN
08/24/18
UPGRADE
Target $130
SPHN
Overweight
Stephens upgrades Sanderson to Overweight on 'compelling' risk/reward
Stephens analyst Farha Aslam upgraded Sanderson Farms to Overweight from Equal Weight and raised her price target for the shares to $130 from $105 following yesterday's Q3 results. The stock, trading near five-year lows on price-to-book, offers a "compelling" risk/reward as current levels, Aslam tells investors in a research note. The analyst believes weak chicken fundamentals are now priced into the shares.
08/24/18
SPHN
08/24/18
UPGRADE
SPHN
Overweight
Sanderson Farms upgraded to Overweight from Equal Weight at Stephens
07/30/18
JEFF
07/30/18
NO CHANGE
Target $77
JEFF
Underperform
Chicken prices have trended below expectations, says Jefferies
Jefferies analyst Akshay Jagdale says that chicken prices have trended below expectations owing to a further weakening of demand since his last chicken industry update. The analyst attributes the demand weakness to an increase in availability of competing proteins and to a lesser extent lower exports amid trade war concerns. He expects "demand to remain weak and supply growth to pick up." As such, Jagdale lowered his estimates for Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN). The analyst keeps an Underperform rating on Sanderson with a $77 price target, Buy rating on Tyson with an $85 price target, and Holding rating on Pilgrim's with a reduced price target of $19.

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AIBRF

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OAOFY

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TELNY

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ANNSF

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AAPL

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NBIX

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TXN

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