Market News / Story
BofA downgrades Smithfield Foods to Neutral as pork market weakens
Seeking Alpha ·
Seeking Alpha reports: Bank of America downgraded Smithfield Foods to neutral from buy and cut its price objective to $21 from $25, citing worsening pork market conditions and weaker producer economics. Current PT represents about a 12% upside from the stock's last close. Analyst Peter T. Galbo lowered its adjusted operating profit estimates for fiscal 2026, 2027, and 2028 by 4%, 7%, and 5%, respectively, leaving its forecasts 4%, 13%, and 10% below consensus. The revisions follow a further…