JBS price target lowered to $20 from $21 at JPMorgan

JPMorgan analyst Lucas Ferreira lowered the firm’s price target on JBS (JBS) to $20 from $21 and keeps an Overweight rating on the shares. The firm sees as a more challenging U.S. chicken margin in the near-term for the company following a 23.5% price decline from the recent peak. Prices are expected to fall after the summer, but placements and better mortality indicate the industry is pumping more supply than expected, the analyst tells investors in a research note.