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Credit Suisse lowers price target on Hormel

Feb. 27, 2018 9:42 AM ETHormel Foods Corporation (HRL) StockHRLBy: Clark Schultz, SA News Editor3 Comments
  • Credit Suisse lowers estimates on Hormel Foods (HRL -0.2%) after digesting the "weak" FQ1 results from the company. Higher freight costs and soft turkey results dragged on Hormel's profit during the quarter.
  • "We are lowering our target price to $33/share to reflect a lower outlook for EBITDA. Volatility in the protein commodity markets represents the biggest downside risk to our target price and Neutral rating," reads the firm's note.
  • Previously: Margins down at Hormel Foods in Q1 (Feb. 22)

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