Hormel Foods price target raised to $36 from $35 at Barclays

Barclays raised the firm’s price target on Hormel Foods (HRL) to $36 from $35 and keeps an Equal Weight rating on the shares. Entering 2025, the firm is more optimistic about crop protection and maintains a positive outlook on diversified international protein names and ingredients. In contrast, Barclays adds caution to its grain processor coverage and adjusted ratings in fertilizer given the recent run-up in share prices. It recognizes the strength in potash volumes in 2024 did not bring stock appreciation for the major potash players.