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Morgan Stanley cautious on Pilgrim's Pride into earnings

Jan. 29, 2018 11:47 AM ETPilgrim's Pride Corporation (PPC) StockPPCBy: Clark Schultz, SA News Editor
  • Morgan Stanley is cautious on Pilgrim's Pride (PPC -2.1%) heading into the company's Q4 earnings report.
  • "We believe Q4 consensus estimates do not fully reflect recent cautious commentary by the company concerning Mexico and a more promotional US big bird pricing environment," observes the analyst team led by Matthew Grainger.
  • MS estimates a 10% EPS tailwind for Hormel from tax reform if it doesn't reinvest fund. PPC is rated at Equalweight and assigned a price target of $32.
  • Pilgrim's Pride is due to spill Q4 numbers on February 15.

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