Stephens resumed coverage of Hormel Foods with an Equal Weight rating and $31 price target The firm says the current fundamental backdrop “warrants caution,” particularly due to weak turkey fundamentals, as Hormel works to improve its earnings base. The analyst tells investors that Hormel sees 2024 as a year of investment year, with 2025 showing growth and the majority of operating improvements to be realized in 2026. As such, Stephens would look for a better entry point.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HRL:
- Hormel Foods Welcomes Debbra Schoneman to Board
- Hormel Foods price target lowered to $30 from $32 at BofA
- Morning Movers: Nvidia dips after report of DOJ subpoena
- Options Volatility and Implied Earnings Moves Today, September 04, 2024
- Hormel Foods narrows FY24 adjusted EPS view to $1.57-$1.63 from $1.55-$1.65
Questions or Comments about the article? Write to editor@tipranks.com