Morgan Stanley reiterates Overweight on Smithfield Foods stock
Morgan Stanley maintained an Overweight rating on Smithfield Foods with a $31.00 price target, citing strong first-quarter results that beat consensus estimates on revenue, margins, and EPS. The company reported a 4% year-over-year rise in operating profit and reaffirmed its fiscal year guidance while highlighting cost management and confidence in its 2026 outlook. Smithfield's stock has risen 29% year-to-date, outperforming the S&P 500, with potential for further upside despite possible overhang from a secondary offering. The firm also appointed new marketing and communications agencies to strengthen its market presence.
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Investing.com - Morgan Stanley reiterated an Overweight rating on Smithfield Foods (NASDAQ:SFD) with a $31.00 price target. Smithfield Foods reported first-quarter results with revenue and margins exceeding consensus estimates. The company posted a 4% increase in total operating profit and an 8% earnings per share beat. The company reiterated its fiscal year guidance, which was initially provided approximately one month ago. The release included language around actively managing costs and consumer spending trends, paired with reaffirmed confidence in the 2026 outlook. First-quarter profit rose 4% year-over-year. The guidance excludes the Nathan’s acquisition, which is expected to be accretive. The stock has gained 29% year-to-date versus the S&P 500.
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