Pilgrim’s Pride resumed with an Equal Weight at Stephens

Stephens analyst Pooran Sharma resumed coverage of Pilgrim’s Pride with an Equal Weight rating and $43 price target While resuming coverage on four companies within the U.S. protein industry with products that span across beef, pork, chicken, eggs, turkey and value-added products, Stephens says Pilgrim’s has scale in all of its major geographies, has been making “steady improvements” to its operations and has consistently focused on growing its mix of prepared food/value-added chicken offerings. However, the stock is trading near all time highs, which “leaves little room for error,” the analyst tells investors.