Analyst Peter Galbo of Bank of America Securities reiterated a Buy rating on Smithfield Foods, boosting the price target to $32.00.
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Peter Galbo has given his Buy rating due to a combination of factors, including Smithfield Foods’ stronger-than-expected fourth-quarter performance and a forward outlook that exceeds market expectations. The company outpaced BofA’s estimates on both earnings and EBITDA, with all three operating segments contributing to the upside, and management guiding to modest sales growth and higher adjusted operating profit than consensus for fiscal 2026.
Galbo also highlights structural drivers that support sustained value creation, such as accretive benefits from the Nathan’s acquisition, which will remove licensing costs and enhance margins, and a disciplined, phased investment in the Sioux Falls facility. He reinforces the Buy rating with a higher price objective of $32, grounded in a sum-of-the-parts valuation and his view that pork remains the most compelling protein cycle given measured supply growth and improving profitability throughout the value chain.
In another report released on March 19, Barclays also maintained a Buy rating on the stock with a $30.00 price target.