Seeking Alpha

KeyBanc is "incrementally positive on chicken," but that doesn't mean any price will do for...

KeyBanc is "incrementally positive on chicken," but that doesn't mean any price will do for shares of Sanderson Farms (SAFM) which are downgraded to Hold from Buy. In a valuation call, analyst Akshay Jagdale says protein companies have generally traded at a 12-14 multiple over the past seven years and at 13.8x estimates, SAFM's valuation is "full."
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