- 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.