Hormel Foods price target lowered to $34 from $36 at Barclays

Barclays analyst Benjamin Theurer lowered the firm’s price target on Hormel Foods (HRL) to $34 from $36 and keeps an Overweight rating on the shares. The company reported “very weak” fiscal Q3 results and the Q4 outlook is not pointing to any improvement in the near term, the analyst tells investors in a research note. However, the firm says some underlying trends are encouraging.