Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on Smithfield Foods (SFD) to $29 from $30 and keeps an Overweight rating on the shares. Heading into Q3 earnings, the firm updated models for the latest scanner trends, commodity prices, and forex rates, where applicable, among its food stock coverage.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SFD:
- Smithfield Foods price target lowered to $28 from $30 at BofA
- Insiders Pour Millions into These 2 Stocks — Goldman Sachs Backs the Move
- Tesla’s big pay proposal for Musk, Wall Street sours on Lululemon: Morning Buzz
- Smithfield Foods 19.5M share Secondary priced at $23.25
- Smithfield Foods launches secondary offering of 16M shares of common stock