Argus looking for better entry point in Hormel Foods

Argus keeps a Hold rating on Hormel Foods with no price target but notes that the firm is looking for a more favorable entry point. The company has struggled to raise margins and earnings fell in FY23, while revenue has also fallen short of expectations as lower volume has more than offset the impact of price hikes, the analyst tells investors in a research note. The firm adds that it has concerns about the company’s weak earnings outlook and expectations for the year ahead.