Pilgrim’s Pride price target raised to $35 from $32 at BMO Capital

BMO Capital raised the firm’s price target on Pilgrim’s Pride to $35 from $32 and keeps an Outperform rating on the shares after its Q4 earnings beat. The firm states that its optimism for U.S. chicken margin outlook continues to build given favorable supply/demand backdrop and sliding feed costs. BMO also cites the company’s continued improving performance in E.U. / U.K. and Mexico while noting its ability to leverage its strategy against market opportunities.