JP Morgan Maintains Underweight on Hormel Foods, Lowers Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Thomas Palmer has maintained an Underweight rating on Hormel Foods (NYSE:HRL) and lowered the price target from $36 to $31.
October 16, 2023 | 2:47 pm
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JP Morgan has maintained an Underweight rating on Hormel Foods and lowered the price target from $36 to $31, which could negatively impact the stock's performance.
The lowered price target by JP Morgan indicates a bearish outlook for Hormel Foods. This could lead to a decrease in the stock's price as investors adjust their expectations based on this new target.
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