BofA upgraded Pilgrim’s Pride to Buy from Neutral with an unchanged price target of $26. Pilgrim’s Pride’s Q1 results were roughly in line with Street forecasts, but the U.S. segment was below the firm’s forecast, the analyst tells investors in a research note. BofA thinks Q1 represented a trough given the expected improvement in supply fundamentals in U.S. chicken and the protein complex, as well as seasonal tailwinds.
Published first on TheFly
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- Pilgrim’s Pride price target lowered to $28 from $29 at Barclays
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- Pilgrim’s Pride Reports First Quarter 2023 Results with $4.2 Billion in Net Sales and Operating Income of $31.3 Million
- Pilgrim’s Pride reinstated with a Market Perform at BMO Capital
- Pilgrim’s Pride Corporation to Host First Quarter Earnings Call on April 27, 2023
