Smithfield Foods shares up after three brokerages start coverage

Smithfield Foods

24/02/2025 15:47

** Shares of pork producer Smithfield Foods  SFD.O  up 2% at
$21.6 after three brokerages initiate coverage
    ** UBS initiates coverage with 'buy' rating, believes market
is under-appreciating SFD's integrated business model and
productivity initiatives 
    ** Morgan Stanley starts with 'overweight' rating, sees
attractive value in a transformed company that can deliver
EBITDA growth and resiliency in earnings in a volatile sector
    ** Bank of America Global Research says co's industry
leading products, alignment with U.S. consumers' diets, best
pork cycle in five years and co's innovation and execution are
factors to initiate coverage and rate it 'buy'
    ** Paired with these cost adjustments, SFD is pursuing more
premium packaged meats products, which we believe will help the
company capture recent consumer trends - UBS 
    ** Co returned to the U.S. public market after a decade on
January 28 with an IPO price of $20
    ** As of last close, co had a market value of $8.29 billion

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))