Smithfield Foods (NYSE: SFD) had its price target upped by JPMorgan Chase to $24.00 in a research note released on Thursday morning.

“Though we appreciate the argument that the stock is cheap (6x EBITDA), we do not necessarily see a meaningful amount of investor capital heading toward protein stocks until we know more about the size of the corn crop. We are constructive about SFD’s fundamental improvements yet not necessarily optimistic about near-term US pork demand around the world.,” JPMorgan Chase’s analyst commented.

A number of other analysts have also recently weighed in on SFD. Analysts at Zacks reiterated a neutral rating on shares of Smithfield Foods in a research note to investors on Thursday, February 21st. They now have a $23.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Smithfield Foods from a market perform rating to an outperform rating in a research note to investors on Wednesday, January 2nd. They now have a $28.00 price target on the stock, up previously from $26.00. Finally, analysts at Knight initiated coverage on shares of Smithfield Foods in a research note to investors on Friday, December 14th. They set a buy rating and a $31.00 price target on the stock.

Six analysts have rated the stock with a buy rating, one has issued an overweight rating, four have assigned a hold rating, two have issued an underweight rating, and one has issued a sell rating to the company’s stock. Smithfield Foods currently has a consensus rating of overweight and an average price target of $27.55.

Shares of Smithfield Foods traded up 1.02% during mid-day trading on Thursday, hitting $26.052. Smithfield Foods has a 52 week low of $17.55 and a 52 week high of $26.07. The stock’s 50-day moving average is currently $23.35. The company has a market cap of $3.613 billion and a P/E ratio of 16.88.

Smithfield Foods, Inc. produces and markets a variety of fresh meat and packaged meats products both domestically and internationally.

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