Goldman Sachs Turns Bearish On This Food Processing Company

by Shivani Kumaresan, Benzinga Staff Writer

March 15, 2022 7:04 AM | 28 seconds read | Make a Comment

Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods Corp HRL to Sell from Neutral with a $44 price target, implying a 12.07% downside.
Samuelson warned that the Russia-Ukraine conflict might become one of the most disruptive events across the food and agricultural supply chain.
The analyst expects material fertilizer supply shocks across nutrients.
Samuelson views these factors working negatively for Hormel.
Price Action: HRL shares are trading lower by 2.86% at $48.61 in premarket on the last check Tuesday.