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SAFM

Sanderson Farms

$114.92

2.48 (2.21%)

10:40
11/30/18
11/30
10:40
11/30/18
10:40

Sanderson Farms to discontinue use of certain antibiotics in live poultry ops

Sanderson Farms announced that it will discontinue by March 1, 2019, using antibiotics considered medically important for humans for disease prevention in its live poultry operations. The change follows the completion of an independent study the Company commissioned earlier this year on its antibiotics program for its live operations. As part of its ongoing animal welfare and antibiotic stewardship efforts, the Company commissioned an advisory board of scientific experts in poultry production, livestock management, and antibiotic use in veterinary and human medicine to study and report on the Company's use of antibiotics in its live poultry production operations. The advisory board found no misuse of antibiotics at Sanderson Farms or other deficiencies in its program. Instead, the advisory board found that compared to the rest of the industry, the Company's broiler chickens "have better than average health," and that "current management practices, including their use of antibiotics, are effective to preserve the health and life of chicks and birds." The advisory board also believes the number of broiler chickens treated with antibiotics for disease at Sanderson Farms in 2017 "is low relative to conventional operations of comparable size." Commenting on the advisory board's report, CEO Joe Sanderson said, "We are grateful for the work of the independent scientists who served on the advisory board, and we value their findings. As a result of their report, we have determined to discontinue by March 1, 2019, the use of gentamicin and virginiamycin for prevention of disease in our live operations. These are the only two antibiotics considered medically important for humans that we currently use for prevention purposes. Our live production team, including our team of veterinarians, is prepared to ensure this change has as little impact as possible on the health and welfare of our birds and environmental resources."

SAFM Sanderson Farms
$114.92

2.48 (2.21%)

10/12/18
BMOC
10/12/18
NO CHANGE
Target $95
BMOC
Market Perform
Sanderson Farms to face 'challenging conditions', says BMO Capital
BMO Capital analyst Kenneth Zaslow kept his Market Perform rating and $95 price target on Sanderson Farms after attending the company's investor day that featured an industry outlook from the company's management and consultants. The analyst says the company is expected to face "difficult and challenging conditions" from record low chicken breast prices, adding that the absence of a "concrete path" toward improved margins will require an "exogenous event" to help "restore profitability".
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

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MPC

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