BMO Capital initiated coverage of Cal-Maine Foods (CALM) with a Market Perform rating and $100 price target which implies 8% upside from the current share price. The firm believes lower commodity egg prices will lead to normalization of earnings post Cal-Maine’s record fiscal Q3. This creates a “tough setup” for investing in in the shares at these levels despite BMO’s forecast for “higher-for-longer” earnings through fiscal 2026, the analyst tells investors in a research note.
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