KeyBanc Upgrades Sanderson Farms (SAFM) to Buy; More Positive on Chicken Group

KeyBanc upgraded Sanderson Farms (NASDAQ: SAFM) from Hold to Buy with a price target of $60.00.

KeyBanc analyst said, "Following Sanderson Farms, Inc. 2Q12 (April quarter) earnings yesterday (May 29), we are updating our FY12 and FY13 estimates for the chicken group and upgrading our rating...We continue to have a favorable view of the chicken industry and Tyson (NYSE: TSN) remains our favorite pick in the space. However, we now believe the risk/reward on SAFM is sufficiently attractive to warrant a BUY."

For an analyst ratings summary and ratings history on Sanderson Farms click here. For more ratings news on Sanderson Farms click here.

Shares of Sanderson Farms closed at $52.66 yesterday.

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