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Morgan Stanley assigns overweight rating to Smithfield Foods with $28 target
Morgan Stanley has initiated coverage on Smithfield Foods, assigning an Overweight rating and a price target of $28, significantly above its current trading price of $19.60. Analysts highlighted the company's vertical integration in the protein sector and its unique position within the pork cycle, suggesting potential upside for investors. Additionally, Smithfield has been included in the Russell 1000 Index, enhancing its visibility among institutional investors, while other firms like UBS and Citi have also issued positive ratings, reflecting strong sentiment about the company's growth prospects.