Cal-Maine Foods price target raised to $97 from $88 at Stephens

Stephens analyst Pooran Sharma raised the firm’s price target on Cal-Maine Foods (CALM) to $97 from $88 and keeps an Equal Weight rating on the shares after the company’s Q2 earnings beat the firm’s and consensus forecasts, driven by higher sales that were partially offset by lower gross margin. The company reported “a solid quarter, and while the firm would typically expect a seasonal pullback in egg demand post Christmas, the “extremely tight” supply dynamic positions Cal-Maine for “another strong quarter,” the analyst tells investors.