Cal-Maine Foods price target raised to $55 from $50 at Stephens

Stephens analyst Ben Bienvenu raised the firm’s price target on Cal-Maine Foods to $55 from $50 and keeps an Equal Weight rating on the shares after the company reported Q2 EPS that missed the firm’s estimates after accounting for the negative impact from the loss contingency accrual associated with the pending anti-trust legal proceeding. Based on continued outbreaks of HPAI and the impact seen on industry production and pricing, the firm thinks the market is likely to remain tighter than previously expected, the analyst tells investors.