Smithfield Foods slips after BofA cuts to 'neutral'

Smithfield Foods

09/10/2026 15:37

** Shares of pork producer Smithfield Foods SFD.O down 2% at $18.51 
** BofA downgrades stock to "neutral" from "buy", cuts PT to $21 from $25
** Brokerage says pork backdrop has worsened, with weak belly and ham demand and lower lean-hog futures reducing expected hog profits against still-elevated feed costs
** Sees packaged meats segment being stable, says recovery in pork or meaningful packaged meats profit growth would make brokerage more constructive
** Four of seven brokerages rate the stock "buy" or higher, the rest "hold"; median PT of $28 — data compiled by LSEG
** Up to last close, stock had fallen ~15% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))