Goldman Sachs Maintains Sell on Hormel Foods, Raises Price Target to $28
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Adam Samuelson has maintained a Sell rating on Hormel Foods (NYSE:HRL) but raised the price target from $26 to $28.
March 01, 2024 | 11:07 am
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Goldman Sachs maintains a Sell rating on Hormel Foods but increases the price target from $26 to $28.
The maintenance of a Sell rating by Goldman Sachs indicates a negative outlook on Hormel Foods' stock, suggesting that the analyst believes the stock may underperform the market or its sector. However, the increase in the price target from $26 to $28 suggests a slight improvement in the valuation assessment of the company, possibly due to recent company performance or market conditions. This mixed signal could lead to short-term volatility in the stock price, but the Sell rating predominates as the more impactful piece of information, suggesting a potential decrease in stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100