BofA and Stephens both raised their price targets on Hormel Foods to $25 following the company's second-quarter adjusted earnings beat. BofA increased its target from $23 while maintaining a Neutral rating, noting the stock's reaction was largely relief-driven and that investors were encouraged by the company's decision not to cut guidance. Stephens raised its target from $22 with an Equal Weight rating, but said it would prefer to see a guidance increase or clearer path to second-half improvement before becoming more constructive.
Hormel Foods CorporationBofA and Stephens raised price targets after Hormel's earnings beat and maintained guidance.
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