Fly News Breaks for March 2, 2020
Mar 2, 2020 | 07:14 EDT
Credit Suisse analyst Robert Moskow lowered the firm's price target on Sanderson Farms to $160 from $197 and keeps an Outperform rating on the shares. The analyst notes that Sanderson Farms' Q1 EPS was below his estimate due to weak commodity white meat prices from excess domestic supplies. Strong profitability over the past five years has provided the private competitors with excess capital to increase capacity and withstand short-term losses, he notes, adding that this suggests that industry cutbacks probably won't start until the end of this calendar year.
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