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Pilgrim’s Pride reinstated with a Market Perform at BMO Capital
The Fly

Pilgrim’s Pride reinstated with a Market Perform at BMO Capital

BMO Capital analyst Andrew Strelzik reinstated coverage of Pilgrim’s Pride with a Market Perform rating and $26 price target, which implies 10%-15% upside. While the shares could benefit near-term from the recent improvement in U.S. chicken margins and seasonal pricing strength into the summer grilling season, Pilgrim’s Pride’s margin improvement will be "muted" and U.S. chicken margins will remain below average as industry production tailwinds mitigate the benefit of solid chicken demand, the analyst tells investors in a research note.

Published first on TheFly

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