Analysts Remain Bullish on Smithfield Foods, Inc. (SFD)

Smithfield Foods, Inc. (NASDAQ:SFD) is among the consumer defensive stocks to buy according to analysts. As of December 12, Smithfield Foods, Inc. (NASDAQ:SFD) is a consensus buy from over 80% of the analysts covering the stock. With a price target range of $25 to $33, the median target of $29 implies 28.72% upside.

On December 9, Benjamin Theurer, an analyst at Barclays, reaffirmed the ‘Buy’ rating on Smithfield Foods, Inc. (NASDAQ:SFD), while setting a price target of $30, which suggests an upside potential of nearly 33% from the current price.

Earlier, in late October, Smithfield Foods, Inc. (NASDAQ:SFD) reported robust performance across all businesses in its third-quarter results. On the results, its President and CEO, Shane Smith, had expressed,

“I am pleased to report that our team delivered consistent, disciplined execution on our strategies, which drove sales growth and record third quarter operating profit in a challenging environment.”

Looking ahead, Smithfield Foods, Inc. (NASDAQ:SFD) forecasted its total company-adjusted operating profit to be between $1,225 million and $1,325 million. Additionally, the company expected the Packaged Meats segment adjusted operating profit to be in the range of $1,060 million to $1,110 million.

Smithfield Foods, Inc. (NASDAQ:SFD) is a Virginia-based producer of packaged meats and fresh pork. Founded in 1936, the company operates as a subsidiary of SFDS UK Holdings Limited.

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Disclosure: None.