Hormel Foods initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Hormel Foods (HRL) with a Buy rating and $35 price target The company has a strong packaged food portfolio with a variety of brands, price points, and occasions across key protein categories, the analyst tells investors in a research note. The firm sees an improving earnings outlook for Hormel, driven by the recovery of its Planters business, stabilization in the turkey supply backdrop, and ongoing cost savings efforts. Consensus estimates underestimate the company’s ability to reaccelerate growth into fiscal 2026 while the stock’s valuation also screens attractive, contends Goldman.