Pilgrim's Pride Corp: Feedback from the road

研报英文原文证据摘录

Pilgrim's Pride Corp: Feedback from the road

Equity Research

Americas Agribusiness

9 June 2026

Pilgrim's Pride Corp

Feedback from the road

We hosted PPC's management for investor meetings in LA

earlier today. Discussions centered on the company's long

term margin opportunity, capital allocation and growth PPC OVERWEIGHT

Americas Agribusiness NEUTRAL

investment priorities, while also addressing near term Price Target USD 42.00

questions around NWS and current commodity market Price (08-Jun-26) USD 29.18

conditions. Stay OW. PotentialSource: Bloomberg,Upside/DownsideBarclays Research +43.9%

We appreciate your consideration in the 2026 Extel All-America Research Survey in the Food Americas Agribusiness

Producers Category. View our analysts » Vote 5 Stars for Barclays » Benjamin M. Theurer

+52 55 5241 3322

We reiterate our OW rating and $42 price target. While near term commodity conditions benjamin.theurer@barclays.com

remain soft, we continue to see attractive upside potential in the shares. Our view is BCCB, Mexico

anchored in margin normalization over time, a more favorable business mix as investments are

Ryan Lavincompleted, and earnings power that should improve beyond the current point in the cycle.

+1 212 526 8713

ryan.lavin1@barclays.comShort term commodity markets remain under pressure, particularly given ongoing softness

BCI, US

in wings and chicken breast meat. That said, PPC's management team remains focused on

operational execution and on investments designed to improve mix and support higher, more Rahi Parikh

stable margins over time. Investor discussions were mainly centered on medium to long +1 212 526 0150

rahi.parikh@barclays.comterm topics such as:

•• Long term margin profile upon completion of its currently elevated capex cycle. Reid Monahan