Morgan Stanley initiated coverage of Smithfield Foods (SFD) with an Overweight rating and $28 price target The firm sees “attractive value” in a “transformed” Smithfield. The company is positioned to deliver solid EBITDA growth and improved resiliency in earnings and free cash flow through future commodity cycles in an “inherently volatile” sector, the analyst tells investors in a research note. The company is better positioned post its transformation, contends Morgan Stanley.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SFD:
- Smithfield Foods initiated with an Overweight at Barclays
- Smithfield Foods initiated with a Buy at BofA
- Smithfield Foods initiated with a Buy at Citi
- Smithfield Foods: Compelling Buy with 33% Upside Potential Driven by Margin Expansion and Valuation Gap
- Smithfield Foods initiated with a Buy at Goldman Sachs