BofA analyst Peter Galbo lowered the firm’s price target on Hormel Foods (HRL) to $28 from $35 and keeps a Neutral rating on the shares. Q3 results disappointed due to higher commodity costs and Hormel lowered its FY25 financial outlook as pressures continue in Q4, the analyst tells investors. Following the report, the firm lowered its multiple given near-term execution risk and applies it to a calendar year 2026 EPS estimate that is down by about 13%, the analyst noted.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HRL:
- Hormel Foods Faces Commodity Cost Challenges and Execution Risks, Analyst Reiterates Hold Rating
- Hormel Foods price target lowered to $34 from $36 at Barclays
- Hormel Foods Reports Strong Sales Amid Cost Challenges
- Closing Bell Movers: Elastic jumps 17% after Q2 earnings beat
- Nvidia reports Q2 beat, Snowflake posts ‘beat and raise’: Morning Buzz