Story updated at 9:50 a.m. to reflect market activity.
Shares of Hormel gained 0.3% to $50.08 in morning trading.
The analyst also raised its EPS estimates for the food company through 2015. Hormel is seeing higher meat demand, which is driving profits higher according to Credit Suisse analysts.
Separately, TheStreet Ratings team rates HORMEL FOODS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate HORMEL FOODS CORP (HRL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."You can view the full analysis from the report here: HRL Ratings Report
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