Barclays lowered the firm’s price target on Hormel Foods (HRL) to $30 from $31 and keeps an Overweight rating on the shares as part of a 2026 outlook for the Americas agribusiness group. The firm expects agriculture markets to see mixed results in 2026. It favors seed over crude protein and is neutral to positive on fertilizer. Within grain traders, Barclays says biofuel policy will determine the direction, while in protein, 2026 is likely a continuation of 2025.
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