Pilgrim’s Pride price target lowered to $42 from $50 at BofA

BofA analyst Peter Galbo lowered the firm’s price target on Pilgrim’s Pride (PPC) to $42 from $50 and keeps a Neutral rating on the shares. Among the firm’s consumer staples coverage, BofA is “cutting estimates for topline and EPS almost universally” for Q3 with a few exceptions, the analyst tells investors in a preview for the packaged food, beverages, HPC and tobacco groups.