Benchmark analyst Ben Klieve reiterated a Buy rating and $100.00 price target on Cal-Maine Foods (NASDAQ: CALM).

The analyst commented, "With 2H’25 representing the HPAI-driven earnings peak, Q3’26 (Feb 2026) showed a dramatic (90%) YoY EPS and EBITDA decrease which we expect will occur again in Q4’26 (May 2026). With this report we trim down our already lowered Q4’26 estimates unchanged, and believe the market clearly understands the YoY headwinds will be extraordinary. On the earnings call, we expect enhanced visibility that the earnings trough is happening right now – visibility of which is the most critical variable for the stock in our view. Most notably, we look for this via a sticky balance of market-based vs contract-based commodity egg, while earnings growth catalysts remain via specialty/prepared offerings and deployment of its $1B+ cash position."

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Shares of Cal-Maine Foods closed at $88.34 yesterday.