Barclays Maintains an 'Equalweight' on Smithfield Foods (SFD); Solid Operating Quarter

Barclays maintains an 'Equalweight' on Smithfield Foods (NYSE: SFD) price target raised from $23 to $27.

Barclays analyst says, "SFD reported fQ2/12 adjusted operating earnings of $0.76/share versus our expectations of $0.50/sh and consensus of $0.69/sh (consensus range was $0.48 - $0.95/sh). The main difference from our estimate was better than expected sales and operating margins in the fresh pork and hog production segments, partially mitigated by lower than expected operating profits on the international side."

Barclays raised FY12 EPS estimate from $2.37 to $2.71 and FY13 from $2.65 to $2.89.

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

Shares of Smithfield Foods closed at $24.47 yesterday.

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