BRF (NYSE:BRFS) Stock

BRF SA is an international producer of fresh and frozen protein foods. The firm's segments are In-natura (poultry, pork, bovine, and other), Processed, and Other sales. The product portfolio includes marinated, frozen, whole and cut meat, specialty meats, portioned products, and frozen prepared entrees. The company also offers margarine, sweet specialties, sandwiches, mayonnaise, and animal feed. Its brands are Sadia, Chester, Perdix, Paty, Perdigao, and Qualy. Internationally, the portfolio's majority brand is Sadia, which is present in multiple categories in Middle Eastern countries. Geographically, sales are distributed evenly between Brazil and international markets.

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BRF S.A. (NYSE: BRFS) is likely to register bottom-line growth when it reports second-quarter 2024 earnings on Aug 14. The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 7 cents per share.

BRF S.A. Q2 Earnings in the Cards: Things to Consider

BRF (NYSE: BRFS) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock&#39;s performance in the near term.

Here is What to Know Beyond Why BRF S.A. is a Trending Stock

BRF (NYSE: BRFS) has recently been on Zacks.com&#39;s list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock&#39;s performance in the near future.

BRF S.A. is Attracting Investor Attention: Here is What You Should Know

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Earnings Scheduled For November 13, 2024

Barclays analyst Benjamin Theurer maintains BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) with a Overweight and raises the price target from $4.5 to $5.

Price Target

Barclays Maintains Overweight on BRF, Raises Price Target to $5

B of A Securities analyst Isabella Simonato maintains BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) with a Neutral and raises the price target from $22 to $24.

B of A Securities Maintains Neutral on BRF, Raises Price Target to $24

BRF S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) is likely to register bottom-line growth when it reports second-quarter 2024 earnings on Aug 14. The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 7 cents per share. The figure indicates improvement from a loss of 10 cents reported in the year-ago quarter.
The company&#39;s top line is likely to decline year over year. The consensus mark for quarterly revenues is pegged at $2.6 billion, indicating a decline of 2.6% from the prior-year quarter&#39;s reported figure. BRF, one of the largest food companies globally, delivered an earnings surprise of 50% in the last reported quarter.
<h3>Things To Consider</h3>
The company has been reaping the benefits of ongoing improvements from the BRF+ program, which emphasizes enhanced commercial execution, cost efficiency and operational performance. BRF&#39;s commitment to value added and innovative products is supporting competitive pricing and bolstering market resilience. Feed costs are expected to remain stable in the near term, aiding in effective cost management and profitability. The continuation of these factors is likely to have driven the company&#39;s performance in the to-be-reported quarter.
<div class="chart_embed">
<h3>BRF S.A. Price, Consensus and EPS Surprise</h3>
<img alt="BRF S.A. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/3c/1723464867.png" style="height:268px; width:574px" title="" />
BRF S.A. price-consensus-eps-surprise-chart | BRF S.A. Quote
Although the Brazilian consumer market is gradually recovering, factors like inflation and employment levels are impacting consumer spending and demand. The company also faces seasonal fluctuations, often seeing weaker performance in the first half of the year. The persistence of these factors is likely to have hurt the company&#39;s performance in the to-be-reported quarter.
</div>
<h3>What the Zacks Model Unveils</h3>
Our proven model doesn&#39;t conclusively predict an earnings beat for BRF this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
BRF carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
<h3>Some Stocks With the Favorable Combination</h3>
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
Ollie&#39;s Bargain currently has an Earnings ESP of +2.38% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports second-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of 78 cents suggests an increase of 16.4% from the year-ago reported number.
OLLI&#39;s top line is expected to have ascended year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $562.4 million, suggesting an increase of 9.3% from the prior-year quarter&#39;s tally. OLLI has a trailing four-quarter earnings surprise of 10.4%, on average.
Costco Wholesale Corporation currently has an Earnings ESP of +0.67% and a Zacks Rank of 3. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COST&#39;s quarterly revenues is pegged at $80.1 billion, suggesting growth of 1.4% from the year-ago quarter&#39;s reported figure.
The consensus estimate for Costco&#39;s earnings has increased by a penny in the past 30 days to $5.02. The consensus mark for earnings suggests growth of 3.3% from the year-ago quarter&#39;s reported figure. COST delivered an earnings beat of 2.3%, on average, in the trailing four quarters.
Coty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/coty#NYSE">COTY</a>) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY&#39;s quarterly earnings has remained unchanged in the past 30 days at 5 cents. The consensus mark for earnings indicates a 400% surge from the figure reported in the year-ago quarter.&nbsp;
The consensus estimate for quarterly revenues is pegged at $1.38 billion, indicating a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
<a href="https://www.zacks.com/stock/news/2320863/brf-s-a-brfs-q2-earnings-in-the-cards-things-to-consider?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2320863">To read this article on Zacks.com click here.</a>

BRF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock&#39;s performance in the near term.
Shares of this chicken, beef and pork producer have returned -9.5% over the past month versus the Zacks S&amp;P 500 composite&#39;s -5.9% change. The Zacks Food - Miscellaneous industry, to which BRF belongs, has gained 2.8% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
<h2>Revisions to Earnings Estimates</h2>
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock&#39;s fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
BRF is expected to post earnings of $0.07 per share for the current quarter, representing a year-over-year change of +170%. Over the last 30 days, the Zacks Consensus Estimate has changed +14.3%.
The consensus earnings estimate of $0.29 for the current fiscal year indicates a year-over-year change of +196.7%. This estimate has changed -10.8% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $0.26 indicates a change of -10.3% from what BRF is expected to report a year ago. Over the past month, the estimate has changed -3.7%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock&#39;s price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, BRF is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
<h2>12 Month EPS</h2>
<h2>Revenue Growth Forecast</h2>
Even though a company&#39;s earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It&#39;s almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company&#39;s potential revenue growth is crucial.
For BRF, the consensus sales estimate for the current quarter of $2.55 billion indicates a year-over-year change of -2.6%. For the current and next fiscal years, $10.35 billion and $10.99 billion estimates indicate +7% and +6.2% changes, respectively.
<h2>Last Reported Results and Surprise History</h2>
BRF reported revenues of $2.7 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $0.06 for the same period compares with -$0.18 a year ago.
Compared to the Zacks Consensus Estimate of $2.59 billion, the reported revenues represent a surprise of +4.21%. The EPS surprise was +50%.
Over the last four quarters, BRF surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.
<h2>Valuation</h2>
No investment decision can be efficient without considering a stock&#39;s valuation. Whether a stock&#39;s current price rightly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company&#39;s valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
BRF is graded A on this front, indicating that it is trading at a discount to its peers.
<h2>Bottom Line</h2>
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about BRF. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2317850/here-is-what-to-know-beyond-why-brf-s-a-brfs-is-a-trending-stock?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_v1-2317850">To read this article on Zacks.com click here.</a>

BRF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) has recently been on Zacks.com&#39;s list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock&#39;s performance in the near future.
Shares of this chicken, beef and pork producer have returned -8% over the past month versus the Zacks S&amp;P 500 composite&#39;s -1.2% change. The Zacks Food - Miscellaneous industry, to which BRF belongs, has lost 1.6% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company&#39;s business prospects usually make its stock &#39;trending&#39; and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, BRF is expected to post earnings of $0.07 per share, indicating a change of +170% from the year-ago quarter. The Zacks Consensus Estimate has changed +40% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $0.33 points to a change of +210% from the prior year. Over the last 30 days, this estimate has changed +8.3%.
For the next fiscal year, the consensus earnings estimate of $0.27 indicates a change of -16.7% from what BRF is expected to report a year ago. Over the past month, the estimate has changed +17.4%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for BRF.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
<img alt="12-month consensus EPS estimate for BRFS _12MonthEPSChartUrl" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/BRFS.png" style="height:auto; width:100%" title="" />
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
In the case of BRF, the consensus sales estimate of $2.55 billion for the current quarter points to a year-over-year change of -2.6%. The $10.4 billion and $11.05 billion estimates for the current and next fiscal years indicate changes of +7.5% and +6.2%, respectively.
Last Reported Results and Surprise History
BRF reported revenues of $2.7 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $0.06 for the same period compares with -$0.18 a year ago.
Compared to the Zacks Consensus Estimate of $2.59 billion, the reported revenues represent a surprise of +4.21%. The EPS surprise was +50%.
Over the last four quarters, BRF surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.
Valuation
No investment decision can be efficient without considering a stock&#39;s valuation. Whether a stock&#39;s current price rightly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
BRF is graded A on this front, indicating that it is trading at a discount to its peers.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about BRF. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2309806/brf-s-a-brfs-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_v1-2309806">To read this article on Zacks.com click here.</a>

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) shares rose 23.32% following last week&#8217;s release of &#8216;San Guo: Mou Ding Tian Xia.&#8217; Also, JP Morgan analyst Daniel Chen upgraded Bilibili from Neutral to Overweight and <a href="https://www.benzinga.com//node/39418621" target="_blank" rel="noreferrer noopener">announced a $21 price forecast</a>.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) shares jumped 22.36% on continued strength after the announcement of insurance coverage of ANKTIVA across multiple states <a href="https://www.benzinga.com//node/39417764" target="_blank" rel="noreferrer noopener">with the first commercial doses administered</a>.</li>
<li>Sasol Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares escalated 20.89% after the company announced that the court ruled in favor of the company and TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) Marketing. Also, it was awarded R3.89B in damages <a href="https://www.benzinga.com//node/39412202" target="_blank" rel="noreferrer noopener">and approximately R2.3B in interest</a>.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) stock gained 15.25% in the last week after JP Morgan <a href="https://www.benzinga.com/quote/OLLI/analyst-ratings">upgraded the stock</a> from Neutral to Overweight.</li>
<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock was up 13.18% after the company announced topline results from its second Phase 3 trial evaluating Lumateperone as adjunctive therapy for patients with major depressive disorder, <a href="https://www.benzinga.com//node/39382029" target="_blank" rel="noreferrer noopener">meeting primary and key secondary endpoints</a>.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares advanced 12.06% on overall strength in chip stocks. Also, B. Riley Securities analyst <a href="https://www.benzinga.com/quote/AMKR/analyst-ratings">raised the price forecast</a> on the stock from $45 to $50.</li>
<li>IRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) shares grew 11.53% after the company announced that it reached a corporate milestone after it launched the initial phases of its previously disclosed <a href="https://www.benzinga.com//node/39411935" target="_blank" rel="noreferrer noopener">manufacturing automation plans</a>.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) shares upped 11.32% after signing a 10-launch deal with <a href="https://www.benzinga.com//node/39429411" target="_blank" rel="noreferrer noopener">Japanese firm Synspective in Tokyo</a>.</li>
<li>Bread Financial Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) stock rose 10.81% after Evercore ISI Group upgraded the stock from Underperform to In-Line and raised its price target from $42 to $45. Also, RBC Capital maintained a Sector Perform rating on the stock and raised its <a href="https://www.benzinga.com/quote/BFH/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $38 to $45</a>.</li>
<li>BRF S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) shares rose 10.69%.</li>
</ol>
Photo via Wikimedia Commons
Also Read: <a href="https://www.benzinga.com/news/24/06/39447506/gamestop-and-first-solar-were-among-the-10-biggest-large-cap-losers-last-week-june-16-june-22-are-th">GameStop And First Solar Were Among The 10 Biggest Large Cap Losers Last Week (June 16-June 22): Are These In Your Portfolio?</a>

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China's Bilibili And Ollie's Bargain Outlet Were Among 10 Mid Cap Stocks With Biggest Gains In The Last Week (June 16-June 22, 2024): Are They In Your Portfolio?

Momentum investing is all about the idea of following a stock&#39;s recent trend, which can be in either direction. In the &#39;long&#39; context, investors will essentially be &quot;buying high, but hoping to sell even higher.&quot; And for investors following this methodology, taking advantage of trends in a stock&#39;s price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at BRF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It&#39;s also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. BRF currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
Set to Beat the Market?
In order to see if BRFS is a promising momentum pick, let&#39;s examine some Momentum Style elements to see if this chicken, beef and pork producer holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It&#39;s also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For BRFS, shares are up 6.18% over the past week while the Zacks Food - Miscellaneous industry is up 0.04% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 15.24% compares favorably with the industry&#39;s 1.92% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of BRF have increased 40.52% over the past quarter, and have gained 126.35% in the last year. In comparison, the S&amp;P 500 has only moved 6.34% and 29.26%, respectively.
Investors should also pay attention to BRFS&#39;s average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. BRFS is currently averaging 3,978,204 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock&#39;s price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with BRFS.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BRFS&#39;s consensus estimate, increasing from $0.16 to $0.29 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that BRFS is a #1 (Strong Buy) stock with a Momentum Score of B. If you&#39;ve been searching for a fresh pick that&#39;s set to rise in the near-term, make sure to keep BRF on your short list.
<a href="https://www.zacks.com/stock/news/2276223/brf-brfs-is-up-6-18-in-one-week-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_10-2276223">To read this article on Zacks.com click here.</a>

Latin America

BRF Is Up 6.18% in One Week: What You Should Know

Barclays analyst Benjamin Theurer maintains BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) with a Overweight and raises the price target from $4 to $4.5.

Barclays Maintains Overweight on BRF, Raises Price Target to $4.5

U.S. stocks were higher, with the Dow Jones index gaining over 100 points on Monday.
Shares of M&amp;T Bank Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtb#NYSE">MTB</a>) rose sharply during Monday&rsquo;s session after the company reported <a href="https://www.benzinga.com/quote/MTB/earnings">first-quarter financial results.</a>
Revenue of $2.260 billion, slightly missing the consensus of $2.263 billion. EPS was $3.09, which came in line with the consensus, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
M&amp;T Bank shares surged 5.4% to $141.88 on Monday.
Here are some other big stocks recording losses in today&rsquo;s session.
<ul>
<li>Snap One Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snpo#NASDAQ">SNPO</a>) shares jumped 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.</li>
<li>Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) gained 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) gained 18.7% to $1.77.</li>
<li>Mobile-health Network Solutions (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndr#NASDAQ">MNDR</a>) shares rose 17.7% to $17.67.</li>
<li>Yatsen Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ysg#NYSE">YSG</a>) jumped 13.3% to $3.41.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares rose 12.8% to $32.71 after dipping 42% on Friday.</li>
<li>Encore Wire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wire#NASDAQ">WIRE</a>) jumped 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) shares climbed 9.5% to $18.05.</li>
<li>BRF S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) gained 7.5% to $3.43 after JP Morgan upgraded the stock from Neutral to Overweight. Goldman Sachs analyst Thiago Bortoluci upgraded BRF from Sell to Neutral and raised the price target from $1.9 to $3.1.</li>
<li>Luminar Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lazr#NASDAQ">LAZR</a>) gained 7% to $1.3901. Luminar is expected to report financials for the first quarter of 2024 after the closing bell on Tuesday, May 7, 2024.</li>
<li>ProFrac Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acdc#NASDAQ">ACDC</a>) gained 6.3% to $8.99. B of A Securities analyst Chase Mulvehill maintained ProFrac with a Neutral and raised the price target from $8.5 to $9.5.</li>
<li>Alcoa Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aa#NYSE">AA</a>) surged 6% to $37.30.</li>
<li>Extreme Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/extr#NASDAQ">EXTR</a>) rose 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.</li>
<li>Spirit Airlines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>) surged 4.4% to $4.3612. Spirit Airlines said it expects a first-quarter FY24 revenue of about $1.265 billion against the previous estimate of $1.250 billion &ndash; $1.280 billion and the consensus of $1.273 billion.</li>
<li>Graphjet Technology (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gti#NYSE">GTI</a>) rose 3.3% to $10.70.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/04/38247378/this-analyst-with-86-accuracy-rate-sees-around-32-upside-in-western-digital-here-are-5-stock-picks-f"> This Analyst With 86% Accuracy Rate Sees Around 32% Upside In Western Digital - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>

Small Cap

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M&T Bank Reports Q1 Earnings, Joins Snap One, Encore Wire And Other Big Stocks Moving Higher On Monday

Goldman Sachs analyst Thiago Bortoluci upgrades BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) from Sell to Neutral and raises the price target from $1.9 to $3.1.

Upgrades

Goldman Sachs Upgrades BRF to Neutral, Raises Price Target to $3.1

WIIM

BRF shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight.

JP Morgan analyst Lucas Ferreira upgrades BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) from Neutral to Overweight.

JP Morgan Upgrades BRF to Overweight

Barclays analyst Benjamin Theurer upgrades BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) from Equal-Weight to Overweight and raises the price target from $2.5 to $4.

Barclays Upgrades BRF to Overweight, Raises Price Target to $4

Shares of Resources Connection, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgp#NASDAQ">RGP</a>) rose sharply in pre-market trading following better-than-expected results for its second quarter.
Resources Connection posted quarterly adjusted earnings of 28 cents per share, beating market estimates of 18 cents per share. The company&rsquo;s quarterly sales came in at $163.1 million versus expectations of $161.936 million.
Resources Connection shares jumped 6.5% to $14.58 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3>Gainers</h3>
<ul>
<li>Jeffs&#39; Brands Ltd(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jfbr#NASDAQ">JFBR</a>) gained 60.6% to $5.06 in pre-market trading after surging 25% on Wednesday. Jeffs&#39; Brands, last month, signed non-binding letters of intent with Sky Growth Partners to invest in a DLP laser-based system for counter-drone solutions and laser-based wireless charging technology.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) rose 41% to $0.1984 in pre-market trading after falling over 11% on Wednesday. Kintara Therapeutics, last month, announced a review of strategic alternatives focused on maximizing stockholder value.</li>
<li>The Arena Group Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aren#NYSE">AREN</a>) shares rose 26.8% to $2.65 in pre-market trading after falling over 9% on Wednesday. Arena Group Board, last month, terminated employment of CEO Ross Levinsohn.</li>
<li>180 Life Sciences Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atnf#NASDAQ">ATNF</a>) shares gained 24.4% to $0.2550 in pre-market trading. 180 Life Sciences, last month, engaged financial advisor to explore strategic alternatives.</li>
<li>Advent Technologies Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adn#NASDAQ">ADN</a>) shares climbed 10.2% to $0.2259 in pre-market trading after falling over 6% on Wednesday. Advent Technologies recently announced a $2 million registered direct offering of common stock.</li>
<li>BRF S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) shares rose 9.8% to $2.80 in pre-market trading. JP Morgan analyst Lucas Ferreira, last month, downgraded BRF from Overweight to Neutral.</li>
<li>Affimed N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afmd#NASDAQ">AFMD</a>) shares gained 9.3% to $0.6426 in pre-market trading after declining 6% on Wednesday. Affimed announced sale of wholly-owned subsidiary AbCheck for $6 million.</li>
<li>SCYNEXIS, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/scyx#NASDAQ">SCYX</a>) gained 8.7% to $2.13 in pre-market trading after falling 11% on Wednesday.</li>
<li>Brooge Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brog#NASDAQ">BROG</a>) gained 8.4% to $4.01 in pre-market trading after falling 8% on Wednesday. Brooge Energy recently reached a settlement with the SEC where it agreed to pay a $5 million penalty and cease any future violations.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>SELLAS Life Sciences Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sls#NASDAQ">SLS</a>) shares fell 26.3% to $0.6674 in pre-market trading after announcing a proposed public offering.</li>
<li>Hallmark Financial Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hall#NASDAQ">HALL</a>) shares fell 20.5% to $0.74 in pre-market trading after declining around 25% on Wednesday. Hallmark Financial Services, on Dec. 26, announced that it intends to voluntary delist from the Nasdaq.</li>
<li>First Wave BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwbi#NASDAQ">FWBI</a>) shares fell 15.3% to $4.62 in pre-market trading. First Wave BioPharma shares jumped 43% on Wednesday after Roth MKM maintained a Buy rating on the stock and adjusted its target from $11 to $40.</li>
<li>ABVC BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abvc#NASDAQ">ABVC</a>) shares fell 15.1% to $1.64 in pre-market trading. ABVC BioPharma shares jumped over 60% on Wednesday after the company and its subsidiary received a milestone payment of 46 million shares from AiBtl BioPharma under a global licensing payment.</li>
<li>E-Home Household Service Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ejh#NASDAQ">EJH</a>) shares fell 14.8% to $1.26 in pre-market trading after dipping 61% on Wednesday.</li>
<li>MMTec, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtc#NASDAQ">MTC</a>) shares fell 13.8% to $1.56 in pre-market trading after surging over 86% on Wednesday.</li>
<li>Evotec SE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evo#NASDAQ">EVO</a>) shares fell 11.4% to $9.37 in pre-market trading. Evotec and Owkin announced an A.I.-powered integrated multi-target collaboration in oncology, immunology and inflammation.</li>
<li>RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) shares fell 10.4% to $0.2631 in pre-market trading after dipping around 35% on Wednesday.</li>
<li>NexImmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nexi#NASDAQ">NEXI</a>) fell 8.9% to $5.65 in pre-market trading after jumping around 153% on Wednesday.</li>
<li>Cal-Maine Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/calm#NASDAQ">CALM</a>) fell 5.3% to $51.94 in pre-market trading after the company reported downbeat results for its second quarter.</li>
</ul>
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Pre-Market Outlook

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Why Resources Connection Shares Are Trading Higher By Over 6%; Here Are 20 Stocks Moving Premarket

JP Morgan analyst Lucas Ferreira downgrades BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) from Overweight to Neutral.

Downgrades

JP Morgan Downgrades BRF to Neutral

As of Nov. 30, 2023, four stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Anheuser-Busch InBev SA/NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>)</h3>
<ul>
<li>On Oct. 31, Anheuser-Busch reported third-quarter FY23 sales growth of 5% year-on-year to $15.57 billion, missing the analyst consensus estimate of $15.73 billion. &quot;The strength of our global footprint delivered another quarter of top- and bottom-line growth. Revenue increased by 5.0% with an EBITDA increase of 4.1%. We continue to invest in our strategic priorities for the long-term,&quot; said Michel Doukeris, CEO, AB InBev. The company&rsquo;s stock jumped around 10% over the past month and has a <a href="https://www.benzinga.com/quote/BUD">52-week high of $67.09. </a>.</li>
<li>RSI Value: 74.03</li>
<li>BUD Price Action: Shares of Anheuser-Busch fell 0.3% to close at $62.61 on Wednesday.</li>
</ul>
<h3>The Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>)</h3>
<ul>
<li>On Nov. 27, Kraft Heinz said its Board of Directors approved a repurchase program for up to $3 billion of shares through Dec. 26, 2026. &quot;A stronger balance sheet, along with advancements we have made across the business, gives us further conviction behind our strategy and the belief that company shares are an attractive investment opportunity,&quot; said CEO and Board Chair Miguel Patricio. The company&rsquo;s stock gained around 12% over the past month and <a href="https://www.benzinga.com/quote/KHC"> has a 52-week high </a> of $42.80.</li>
<li>RSI Value: 72.09</li>
<li>KHC Price Action: Shares of Kraft Heinz fell 0.1% to close at $35.08 on Wednesday.</li>
</ul>
<h3>Target Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>)</h3>
<ul>
<li>On Nov. 15, Target reported better-than-expected third-quarter financial results. &quot;This profit performance benefited from our team&#39;s commitment to efficiency and disciplined inventory management, and I&#39;d like to thank them for their tireless efforts,&quot; said Brian Cornell, chairman and CEO of Target. The company&rsquo;s stock jumped around 19% over the prior month and has a <a href="https://www.benzinga.com/quote/TGT"> 52-week high </a> of $181.70.</li>
<li>RSI Value: 72.90</li>
<li>TGT Price Action: Shares of Target fell 0.3% to close at $131.32 on Wednesday.</li>
</ul>
<h3>BRF S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>)</h3>
<ul>
<li>On Nov. 13, BRF reported a Q3 loss of 5 cents per share. The company&rsquo;s stock gained around 5% over past five days and has a 52-week high is $3.09.</li>
<li>RSI Value: 74.07</li>
<li>BRFS Price Action: Shares of BRF rose 0.7% to close at $3.03 on Wednesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/11/36016427/kroger-dell-and-3-stocks-to-watch-heading-into-thursday"> Kroger, Dell And 3 Stocks To Watch Heading Into Thursday </a>

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Shares of consumer staples stocks are trading higher amid overall market strength following softer-than-expected October inflation data.

BRF S.A. Reports Q3 EPS Of $(0.05)

Barclays analyst Benjamin Theurer maintains BRF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRFS#NYSE">BRFS</a>) with a Equal-Weight and raises the price target from $1.5 to $2.

Barclays Maintains Equal-Weight on BRF, Raises Price Target to $2

Press Releases

BRF filed its Annual Report on Form 20-F

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