Citigroup Initiates Coverage On Hormel Foods with Neutral Rating, Announces Price Target of $31
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Thomas Palmer initiates coverage on Hormel Foods (NYSE:HRL) with a Neutral rating and a price target of $31.
February 01, 2024 | 11:31 am
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NEUTRAL IMPACT
Citigroup has initiated coverage on Hormel Foods with a Neutral rating and a price target of $31.
The initiation of coverage by Citigroup with a Neutral rating and a specific price target provides investors with a new professional analysis to consider. However, a Neutral rating suggests that Citigroup does not see significant upside or downside in the near term, which is why the score is neutral. The relevance is high because the coverage directly pertains to Hormel Foods. The importance is significant but not critical, as analyst ratings are just one of many factors investors consider. The confidence level is high due to the clear stance taken by Citigroup.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90