JPMorgan Reduces PT on JBS N.V. (JBS) to $20 From $21

JBS N.V. (NYSE:JBS) is one of the best large cap stocks with more than 50% upside. On October 14, JPMorgan analyst Lucas Ferreira slashed the price target on JBS N.V. (NYSE:JBS) to $20 from $21 but kept an Overweight rating on the stock.

The firm stated that it sees the US chicken margin to be challenging for JBS N.V. (NYSE:JBS) in the near term after the 23.5% price drop from the recent peak. While it expects prices to drop after summer, better mortality and placements show that the industry is pumping higher-than-expected supply.

Barclays analyst Benjamin Theurer released a report on October 7, maintaining a Buy rating on JBS N.V. (NYSE:JBS). The analyst assigned JBS N.V. (NYSE:JBS) a price target of $22.

JBS N.V. (NYSE:JBS) is a food company that sells pork, beef, lamb meat, and poultry products. The company offers its products to club stores, supermarkets, other retail distributors, and foodservice companies.

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Disclosure: None. This article is originally published at Insider Monkey.