Goldman Sachs analyst Thiago Bortoluci maintained a Buy rating on JBS on March 3 and set a price target of $20.50.
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Thiago Bortoluci has given his Buy rating due to a combination of factors that, in his view, are not fully reflected in JBS’s share price despite recent volatility. He notes that the proposed U.S. Senate measures arrive at a time when beef inflation is elevated and political pressure on meatpackers is intense, but he frames these risks against a structurally tight cattle cycle, which is the primary driver of higher beef prices rather than excess industry profitability.
He also points out that packers have already ceded a meaningful portion of the beef profit pool since 2021, suggesting limited room for additional regulatory intervention to materially compress margins further. In that context, he highlights JBS USA’s ongoing, sizable investments in its beef operations, which contrast with capacity reductions by some local peers and position the company to benefit when cattle supply normalizes, supporting his favorable, long-term stance on the stock.
According to TipRanks, Bortoluci is ranked #6177 out of 12083 analysts.
In another report released on February 18, Morgan Stanley also reiterated a Buy rating on the stock with a $21.00 price target.