Poultry producer Sanderson Farms, Inc. (
) on Wednesday caught a big upgrade from analysts at KeyBanc.
The firm said it boosted its rating on SAFM from "Hold" to "Buy"
with a $60 price target, suggesting a 14% upside to the stock's
Tuesday closing price of $52.66.
A KeyBanc analyst commented, "Following Sanderson Farms, Inc.
2Q12 (April quarter) earnings yesterday (May 29), we are updating
our FY12 and FY13 estimates for the chicken group and upgrading our
rating…We continue to have a favorable view of the chicken industry
and Tyson (
) remains our favorite pick in the space. However, we now believe
the risk/reward on SAFM is sufficiently attractive to warrant a
Sanderson Farms shares were unchanged in premarket trading
The Bottom Line
Shares of Sanderson Farms (
) have a 1.29% dividend yield, based on last night's closing stock
price of $52.66. The stock has technical support in the $48-$50
price area. The stock is trading near all-time highs of $54-$55 a
Sanderson Farms, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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