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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CALM:
- Cal-Maine Foods 2.98M share Spot Secondary priced at $92.75
- Cal-Maine Foods announces 3.02M share offering of common stock for holders
- Cal-Maine Foods files to sell 6.32M shares of common stock for holders
- Cal-Maine Foods management to meet with Stephens
- Cal-Maine Foods Stock (CALM) Trending Down Despite Record Egg Sales and Strategic Expansion