Deutsche Bank Maintains a 'Hold' on Smithfield Foods (SFD); Very Solid Trends, But Competition Rising
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Price: $22.76 +1.29%
Rating Summary:
11 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank maintains a 'Hold' on Smithfield Foods (NYSE: SFD) price target of $27.00.
Analyst, Christina McGlone, said, "SFD is becoming a more efficient, less leveraged company with a focus on moving up the value chain. Against this backdrop, industries in which it participates have become more attractive. Packer capacity and supply of hogs is more aligned, hog prod. profitability looks solid over next 12 months, SFD is passing through higher costs in its branded business. However, we believe valuation largely reflects these attributes, strong export demand may cool, hog herd may rebuild, and packaged competition increase."
"We lower Q4E from $0.78 to $0.66, and raise F2012E EPS from $2.77 to $2.86, though this mostly reflects lower interest expense, with EBIT little changed, and lower Hog Prod. profits offsetting higher Packaged."
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 $22.82 yesterday.
Analyst, Christina McGlone, said, "SFD is becoming a more efficient, less leveraged company with a focus on moving up the value chain. Against this backdrop, industries in which it participates have become more attractive. Packer capacity and supply of hogs is more aligned, hog prod. profitability looks solid over next 12 months, SFD is passing through higher costs in its branded business. However, we believe valuation largely reflects these attributes, strong export demand may cool, hog herd may rebuild, and packaged competition increase."
"We lower Q4E from $0.78 to $0.66, and raise F2012E EPS from $2.77 to $2.86, though this mostly reflects lower interest expense, with EBIT little changed, and lower Hog Prod. profits offsetting higher Packaged."
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 $22.82 yesterday.
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