Hormel Foods price target lowered to $25 from $26 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on Hormel Foods (HRL) to $25 from $26 and keeps a Neutral rating on the shares. The firm notes the company now expects 2025 EPS to be 8c-9c below its previously announced guidance of $1.43-1.45, driven by HPAI in its flock, a chicken recall in Foodservice, a fire at its nut butter production facility, and continued commodity cost pressure. Its lowered EPS guidance does not include its expected impairment charge, which Piper expects to be adjusted out.