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HRL

Hormel Foods

$40.44

0.06 (0.15%)

04:57
04/23/19
04/23
04:57
04/23/19
04:57

Hormel Foods downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods to Sell from Neutral and lowered his price target for the shares to $35 from $37. African swine fever is upending the protein markets, Samuelson tells investors in a research note. JPMorgan this morning also downgraded Hormel Foods to a sell-equivalent rating.

  • 18

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    May

HRL Hormel Foods
$40.44

0.06 (0.15%)

11/27/18
JEFF
11/27/18
DOWNGRADE
Target $44
JEFF
Hold
Jefferies says Hormel pricing in 'all the good news,' downgrades to Hold
Jefferies analyst Akshay Jagdale downgraded Hormel Foods to Hold from Buy with an unchanged price target of $44. Sector rotation into high-quality staples like Hormel, combined with "significantly better" pork margins, have more than offset bottoming turkey margins, resulting in the stock rallying 34% over the last nine months, Jagdale tells investors in a research note. The company deserves a double-digit valuation premium to peers, but the current 34% premium "prices in all the good news," says the analyst. He downgrades Hormel on valuation and awaits a better entry point into the name.
11/27/18
11/27/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale citing valuation. 2. Wyndham Hotels & Resorts (WH) downgraded to Buy from Conviction Buy at Goldman Sachs while Wyndham Destinations (WYND) was downgraded to Neutral from Buy. 3. U.S. Bancorp (USB) downgraded to Hold from Buy at Deutsche Bank with analyst Matthew O'Connor citing valuation. 4. Macerich (MAC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he believes the market is underappreciating the company's free cash flow declines in 2019 and 2020. 5. Athenahealth (ATHN) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jamie Stockton saying he suspects a proxy will come out in the next week or two detailing the full process since June to try to sell the company, which ultimately resulted in Veritas Capital and Elliott Management making a $135 all-cash offer on November 12. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/04/19
SPHN
03/04/19
INITIATION
Target $42
SPHN
Equal Weight
Hormel Foods initiated with an Equal Weight at Stephens
Stephens analyst Ben Bienvenu started Hormel Foods with an Equal Weight rating and $42 price target, stating that he likes the company's leadership position in its core product categories and "very consistent strategy," but he thinks the current valuation is "relatively full."
04/23/19
JPMS
04/23/19
DOWNGRADE
Target $36
JPMS
Underweight
Hormel Foods downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Thomas Palmer downgraded Hormel Foods to Underweight from Neutral and lowered his price target for the shares to $36 from $40.

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