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HRL

Hormel Foods

$40.44

0.06 (0.15%)

, TSN

Tyson Foods

$72.81

-0.68 (-0.93%)

06:16
04/23/19
04/23
06:16
04/23/19
06:16

Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral

Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.

HRL

Hormel Foods

$40.44

0.06 (0.15%)

TSN

Tyson Foods

$72.81

-0.68 (-0.93%)

BRFS

BRF S.A.

$7.10

0.09 (1.28%)

SAFM

Sanderson Farms

$141.57

-0.13 (-0.09%)

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    Nov

HRL Hormel Foods
$40.44

0.06 (0.15%)

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."
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.
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.
04/23/19
GSCO
04/23/19
DOWNGRADE
Target $35
GSCO
Sell
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.
TSN Tyson Foods
$72.81

-0.68 (-0.93%)

04/17/19
FBCO
04/17/19
NO CHANGE
Target $74
FBCO
Neutral
Tyson Foods price target raised to $74 from $66 at Credit Suisse
Credit Suisse analyst Robert Moskow raised his price target for Tyson Foods to $74 from $66 as he believes its Chicken and Pork segments are poised to benefit from a potential trade deal, domestic chicken demand is positioned to improve, and Tyson's Keystone chicken business is poised to benefit in Asia if consumers shift to chicken from pork as fears of African Swine Fever spread. The analyst reiterates a Neutral rating on the shares.
01/10/19
VERF
01/10/19
UPGRADE
VERF
Buy
Tyson Foods upgraded to Buy from Hold at Vertical Group
02/13/19
JEFF
02/13/19
NO CHANGE
JEFF
Underperform
Jefferies continues to view Sanderson as overvalued, prefers Tyson
Jefferies analyst Akshay Jagdale expects chicken supply to increase ~3% in 2019 driven by incremental capacity, breeder flock expansion, and improved productivity. The analyst, in a research note titled "Don't Count Your Chickens Before They Hatch," says that although chicken demand has "seemingly improved" over the past month, he remains skeptical about its sustainability given the abundance of competing protein supplies expected again in 2019. Jagdale prefers to own diversified chicken processor Tyson Foods (TSN) "at this point in the cycle" and continues to believe Sanderson Farms (SAFM) is overvalued.
03/04/19
SPHN
03/04/19
INITIATION
Target $78
SPHN
Overweight
Tyson Foods initiated with an Overweight at Stephens
Stephens analyst Ben Bienvenu started Tyson Foods with an Overweight rating and $78 price target, stating that he thinks shares are trading at an undeserved, discounted valuation. He likes its diversified product offering, "best in class" operations and "prudent" capital allocation, Bienvenu tells investors.
BRFS BRF S.A.
$7.10

0.09 (1.28%)

11/13/18
SANT
11/13/18
DOWNGRADE
SANT
Hold
BRF S.A. downgraded to Hold from Buy at Santander
04/01/19
SANT
04/01/19
UPGRADE
SANT
Buy
BRF S.A. upgraded to Buy from Hold at Santander
10/02/18
UBSW
10/02/18
DOWNGRADE
UBSW
Sell
UBS doesn't see profit at BRF until 2021, downgrades shares to Sell
UBS analyst Alan Alanis downgraded BRF S.A. to Sell and lowered his price target for the shares to R$20 from R$22. BRF has lost money since 2016 and the analyst does not expect the company to tun a profit until 2021. Slow economic recovery, continued closure of key export markets and higher cost inflation remain headwinds, Alanis tells investors in a research note. He sees downside to consensus estimates and believes good news is already priced into the shares.
10/01/18
UBSW
10/01/18
DOWNGRADE
UBSW
Sell
BRF S.A. downgraded to Sell from Neutral at UBS
SAFM Sanderson Farms
$141.57

-0.13 (-0.09%)

04/23/19
GSCO
04/23/19
UPGRADE
Target $131
GSCO
Neutral
Sanderson Farms upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Adam Samuelson upgraded Sanderson Farms to Neutral from Sell and raised his price target for the shares to $131 from $81. African swine fever is upending the protein markets, Samuelson tells investors in a research note.
03/13/19
03/13/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Carnival (CCL) upgraded to Buy from Neutral at Goldman Sachs analyst Stephen Grambling citing the company accelerating its net unit growth from 2.5% in the last 3 years to 5% over the next 3 years and also believes that concerns about net yields in Europe are overblown. 2. Sanderson Farms (SAFM) upgraded to Neutral from Underweight at JPMorgan with analyst Ken Goldman saying he now views the stock's upside/downside risk as balanced. 3. Axis Capital (AXS) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Meyer Shields saying Axis is positioned for strong underwriting improvement. 4. Broadridge (BR) upgraded to Outperform from Market Perform at Raymond James with analyst Patrick O'Shaughnessy saying he believes Broadridge's current valuation offers investors an attractive entry point into a differentiated, high barrier to entry business. 5. Aurora Cannabis (ACB) upgraded to Buy from Hold at GMP Securities with analyst Martin Landry saying new high profile strategic advisor Nelson Peltz could be "instrumental" in facilitating partnership talks with large consumer packaged goods companies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
JPMS
03/13/19
UPGRADE
Target $127
JPMS
Underweight
JPMorgan upgrades Sanderson Farms to Neutral on balanced risk/reward
JPMorgan analyst Ken Goldman upgraded Sanderson Farms to Neutral from Underweight and raised his price target for the shares to $127 from $88. The analyst now views the stock's upside/downside risk as balanced. On the constructive side, industry bird weights are down, China "indeed could open," and Sanderson can post upside to consensus estimates, Goldman tells investors in a research note. However, on the less constructive side, the U.S. broiler industry is still planning on accelerating its capacity growth over the next couple of years, he adds.
03/13/19
JPMS
03/13/19
UPGRADE
Target $127
JPMS
Neutral
Sanderson Farms upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Ken Goldman upgraded Sanderson Farms to Neutral from Underweight and raised his price target for the shares to $127 from $88.

TODAY'S FREE FLY STORIES

DKS

Dick's Sporting

$34.56

1.59 (4.82%)

10:08
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08/22
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10:08
Hot Stocks
Breaking Hot Stocks news story on Dick's Sporting »

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  • 22

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DKS

Dick's Sporting

$34.55

1.58 (4.79%)

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Breaking Hot Stocks news story on Dick's Sporting »

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IAC

IAC

$260.87

1.72 (0.66%)

10:07
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08/22
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10:07
Initiation
IAC initiated  »

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DKS

Dick's Sporting

$34.18

1.21 (3.67%)

10:05
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Dick's Sporting sees delivering positive comps throughout 2H »

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GLW

Corning

$27.86

-0.03 (-0.11%)

10:05
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Corning call volume above normal and directionally bullish »

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FX Action: The dollar »

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JWN

Nordstrom

$29.58

3.07 (11.58%)

, BBBY

Bed Bath & Beyond

$8.33

0.35 (4.39%)

09:55
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Options
Early notable gainers among liquid option names on August 22nd »

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JWN

Nordstrom

$29.58

3.07 (11.58%)

BBBY

Bed Bath & Beyond

$8.33

0.35 (4.39%)

SIG

Signet Jewelers

$12.83

0.37 (2.97%)

GPS

Gap

$17.35

0.39 (2.30%)

ULTA

Ulta Beauty

$336.20

8.39 (2.56%)

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General news
U.S. flash August Markit manufacturing PMI fell 0.5 ticks to 49.9 »

U.S. flash August Markit…

NEM

Newmont Goldcorp

$38.58

0.06 (0.16%)

, GOLD

Barrick Gold

$18.53

-0.11 (-0.59%)

09:52
08/22/19
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09:52
Periodicals
China easing restrictions on gold imports, Reuters reports »

China has partially…

NEM

Newmont Goldcorp

$38.58

0.06 (0.16%)

GOLD

Barrick Gold

$18.53

-0.11 (-0.59%)

FCX

Freeport McMoRan

$9.27

0.13 (1.42%)

AEM

Agnico Eagle

$59.45

-0.09 (-0.15%)

KL

Kirkland Lake Gold

$45.97

0.34 (0.75%)

AU

AngloGold

$21.72

0.03 (0.14%)

KGC

Kinross Gold

$4.71

0.01 (0.21%)

GFI

Gold Fields

$5.84

0.03 (0.52%)

03/08/13
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CBLK

Carbon Black

$23.58

0.83 (3.65%)

09:50
08/22/19
08/22
09:50
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09:50
Options
Early call buying in Carbon Black »

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NNA

Navios Acquisition

$6.15

-0.25 (-3.91%)

09:47
08/22/19
08/22
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Hot Stocks
Navios Acquisition falls -6.2% »

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LB

L Brands

$18.66

-1.39 (-6.93%)

09:47
08/22/19
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L Brands falls -7.3% »

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VEDL

Vedanta

$7.15

-0.585 (-7.56%)

09:47
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Vedanta falls -7.9% »

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FLY

Fly Leasing

$20.00

1.75 (9.59%)

09:47
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Fly Leasing rises 9.2% »

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PSTG

Pure Storage

$15.35

1.48 (10.67%)

09:47
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GME

GameStop

$3.97

0.42 (11.83%)

09:47
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GRPN

Groupon

$2.48

-0.04 (-1.59%)

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09:45
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General news
Leading Indicators to be reported at 10:00 »

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WYND

Wyndham Destinations

$42.90

(0.00%)

09:42
08/22/19
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09:42
Conference/Events
Wyndham Destinations management to meet with Morgan Stanley »

Luncheon Meeting with CEO…

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  • 28

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WYND

Wyndham Destinations

$42.90

(0.00%)

09:41
08/22/19
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Conference/Events
Wyndham Destinations management to meet with Suntrust »

Drinks with Management…

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  • 28

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BJ

BJ's Wholesale

$22.54

(0.00%)

, PSTG

Pure Storage

$13.87

(0.00%)

09:40
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Options
Unusually active option classes on open August 22nd »

Unusual total active…

BJ

BJ's Wholesale

$22.54

(0.00%)

PSTG

Pure Storage

$13.87

(0.00%)

GRPN

Groupon

$2.52

(0.00%)

DKS

Dick's Sporting

$32.97

(0.00%)

SPLK

Splunk

$128.51

(0.00%)

JWN

Nordstrom

$26.51

(0.00%)

TEAM

Atlassian

$143.95

(0.00%)

GME

GameStop

$3.55

(0.00%)

CRM

Salesforce

$147.40

(0.00%)

JNJ

Johnson & Johnson

$131.55

(0.00%)

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09:40
08/22/19
08/22
09:40
08/22/19
09:40
General news
U.S. leading index preview: »

U.S. leading index…

UNVR

Univar

$19.03

0.075 (0.40%)

09:38
08/22/19
08/22
09:38
08/22/19
09:38
Conference/Events
Univar management to meet with SunTrust »

Group Dinner Meeting with…

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  • 28

    Aug

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TGT

Target

$103.11

17.54 (20.50%)

09:37
08/22/19
08/22
09:37
08/22/19
09:37
Recommendations
Target analyst commentary at BMO Capital »

Target price target…

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