Hormel shares are trading lower following the company's Thursday investor day event. Additionally, Goldman Sachs maintained a Sell rating on the stock and lowered its price target from $33 to $29.
Portfolio Pulse from Bill Haddad
Hormel shares traded lower after the company's investor day event. Goldman Sachs maintained a Sell rating on the stock and lowered its price target from $33 to $29.
October 13, 2023 | 2:09 pm
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NEGATIVE IMPACT
Hormel's stock price is likely to be negatively impacted in the short term due to Goldman Sachs maintaining a Sell rating and lowering its price target.
The lowered price target and maintained Sell rating by Goldman Sachs indicates a negative outlook for Hormel. This is likely to discourage investors, leading to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100