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Ahead Of The Bell: Meat Processors

Stock quotes in this article: HRL , SAFM , TSN  

NEW YORK (AP) — A KeyBanc Capital Markets analyst raised price targets for shares of two meat-processing companies despite rising grain costs that could hurt fiscal 2010 profits.

Analyst Akshay S. Jagdale boosted his price target for chicken processor Sanderson Farms Inc. to $52 from $43, indicating he now expects the shares to gain 10 percent in the next 12 months.

Jagdale noted that the company beat his profit estimate in its latest reported quarter and said in a note to investors that chicken-part prices are rising. ...

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