- 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)
Credit Suisse lowers price target on Hormel
Recommended For You
About HRL Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
HRL | - | - |
Hormel Foods Corporation |