Hormel Foods price target raised to $28 from $26 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Hormel Foods to $28 from $26 but keeps a Sell rating on the shares. The analyst notes the company’s Q1 earnings beat with strength in the quarter centered on better-than-expected volume growth and margins across all three segments, though the management also maintained its outlook due to “uncertain global consumer demand backdrop and larger-than-expected declines in turkey commodity prices”.