Cal-Maine Foods initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Leah Jordan initiated coverage of Cal-Maine Foods (CALM) with a Neutral rating and $110 price target The company has benefited from higher egg prices amid tight supply due to elevated disease impacts, the analyst tells investors in a research note. However, Goldman expects egg fundamentals to normalize in the coming year as the supply backdrop improves with a recovery in the flock.