Poultry stocks rise after upgrade

US - Shares of the nation's three largest poultry producers traded higher Monday following an analyst upgrade saying that the troubled chicken business has bottomed out.

Merrill Lynch analyst Diane Geissler upgraded the companies' shares to buy from neutral, saying she believes "the worst stage of the poultry cycle is behind the industry."

"We have long argued that the time to buy the poultry companies on normalized earnings is when the bottom has been seen and conditions are improving. We believe that time is now," said Geissler in a note to clients.

Source: MarketWatch
calendar icon 23 May 2006
clock icon 1 minute read
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