Hormel Foods price target lowered to $47 from $52 at Stephens

Stephens lowered the firm’s price target on Hormel Foods to $47 from $52 and keeps an Equal Weight rating on the shares following the company’s Q1 report. There should be some lingering cost pressures in Q2, though profitability should improve in the second half of this year, said the firm, which continues to look for a better entry point on the stock.