Fly News Breaks for December 13, 2019
Dec 13, 2019 | 07:30 EDT
Credit Suisse analyst Robert Moskow initiated coverage of Sanderson Farms with an Outperform rating and $197 price target. In a research note to investors, Moskow says he believes the chicken industry is in the early stages of a rebound in supply-demand dynamics that he expects will boost Sanderson's EBIT margin from a cyclical low to a prolonged cyclical high. The analyst expects chicken prices to rise 11% and Sanderson's profit margin and EPS to grow to greater than 13% and $18.56, respectively, by FY21. Regardless of industry cycles, Moskow says he believes Sanderson is well-positioned.
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