Credit Suisse Upgrades Hormel Foods (HRL) to Outperform, Sees Volume Growth in a Cost-Cutting Environment

August 22, 2016 6:58 AM EDT
Get Alerts HRL Hot Sheet
Price: $36.17 -0.5%

Rating Summary:
    6 Buy, 8 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Credit Suisse upgraded Hormel Foods (NYSE: HRL) from Neutral to Outperform with a price target of $43.00 (from $38.00), citing favorable industry conditions and volume.

Analyst Robert Moskow commented, "In an environment where packaged food peers are rationalizing their portfolios and turning almost exclusively to cost-cutting to adjust slowing consumer demand, Hormel stands out as having a clear path toward volume growth over the next 12 months."

For an analyst ratings summary and ratings history on Hormel Foods click here. For more ratings news on Hormel Foods click here.

Shares of Hormel Foods closed at $38.66 yesterday.

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