Daily Sound Bite: Future Rosy for Hormel

KeyBanc analyst Akshay Jagdale on Friday upgraded Hormel Foods Corp. stock from "Hold" to "Buy." Jagdale is optimistic about the company's future growth, citing a solid profit outlook for the company's Jennie-O Turkey division and its recent acquisition of Skippy. In a note to investors, he said,

"Hormel has a very good track record of generating consistent growth from iconic brands such as Spam by continuously finding ways to keep the brand relevant amongst its loyal consumer base."

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