Fly News Breaks for March 13, 2019
Mar 13, 2019 | 06:20 EDT
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.
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