Pilgrim's Pride Corp: EU Leisure & Consumer Launches Coverage of Peer Cranswick

研报英文原文证据摘录

Pilgrim's Pride Corp: EU Leisure & Consumer Launches Coverage of Peer Cranswick

Equity Research

8 July 2026

Pilgrim's Pride Corp

EU Leisure & Consumer Launches

Coverage of Peer Cranswick First Look

We highlight that our EU leisure & consumer team has PPC OVERWEIGHT

initiated coverage on Cranswick, a key peer of PPC in Americas Agribusiness NEUTRAL

European protein. We continue to see growing worldwide Price Target USD 42.00

Price (07-Jul-26) USD 28.77

protein consumption and the affordability of pork & poultry Potential Upside/Downside +46.0%

as near-term catalysts for the space. Source: Bloomberg, Barclays Research

Americas AgribusinessEU Consumer Launches Coverage of Cranswick: The Barclays UK Mid & Small Cap Leisure/

Benjamin M. Theurer

Consumer Team, led by Richard Taylor, recently initiated on Cransick (CWK.L) with an OW rating

+52 55 5241 3322

and a £63.80 price target. The company is a UK-based food producer in the pork, poultry, and benjamin.theurer@barclays.com

prepared food space, making it a direct competitor with Pilgrim's Pride (PPC) within our BCCB, Mexico

coverage. Per PPC's 2025 investor day, the company accounts for nearly 1 of every 4 lbs of both

Ryan Lavin

pigs and chickens sold in the UK.

+1 212 526 8713

ryan.lavin1@barclays.comBenefiting from Continued Protein Trends: Both companies, driven by their poultry and pork

BCI, US

portfolios, are positioned to benefit from higher protein consumption in the region and a shift in

consumer habits. Higher interest in protein has driven increased purchasing, especially when Rahi Parikh

coupled with GLP-1 adoption - leading to stronger category volume growth compared to broad +1 212 526 0150

rahi.parikh@barclays.comgrocery volumes. Additionally, at-home eating is rising as consumer confidence in the region