Cal-Maine Foods price target raised by $5 at Stephens, here’s why

Stephens raised the firm’s price target on Cal-Maine Foods to $50 from $45 and keeps an Equal Weight rating on the shares. Egg prices have continued to be strong this quarter, notes the firm, which is revising estimates accordingly for the quarter and the remainder of the fiscal year. With easing grain prices looking forward, the firm thinks Cal-Maine should continue to enjoy strong profitability, though it is reiterating an Equal Weight rating.