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Benzinga
Benzinga
Business
Shivani Kumaresan

Goldman Sachs Turns Bearish On This Food Processing Company

Goldman Sachs HRL Hormel Hormel Foods Corp NYSE Russia
  • Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods Corp (NYSE: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.
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