UPDATE 2-Two BRF poultry plants in Brazil suspended from exporting to Saudi Arabia [Reuters]
BRF S.A. (BRFS)
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Source: Reuters
Two BRF poultry plants in Brazil suspended from exporting to Saudi Arabia SAO PAULO (Reuters) - Two plants in Brazil’s Paraná state operated by food processor BRF SA have been suspended from exporting poultry to Saudi Arabia, dealing a blow to the company’s business activities in an important export market. The Saudis blamed alleged irregularities in feed production disclosed by a Brazilian criminal probe conducted between 2014 and 2018 as the reason for imposing the restrictions, BRF said in a securities filing on Monday. One of the plants targeted by the temporary ban was not selling anything to Saudi Arabia. The other, located in the municipality of Dois Vizinhos, was exporting about 6,000 tonnes a month to the country, the filing said. Investors shrugged off the announcement, with BRF shares closing 0.61% higher. Credit Suisse analysts said on Monday, however, that the financial impact of the Saudi move was more significant than restrictions imposed in October on products from BRF
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News
- BRF filed its Annual Report on Form 20-FPR Newswire
- Is BRF (BRFS) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- 22nd Century, Coffee Holding among Consumer Staples movers [Seeking Alpha]Seeking Alpha
- Brf S.A. (NYSE: BRFS) was upgraded by analysts at The Goldman Sachs Group, Inc. from a "sell" rating to a "neutral" rating. They now have a $3.10 price target on the stock, up previously from $1.90.MarketBeat
- Brf S.A. (NYSE: BRFS) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating.MarketBeat
BRFS
Sec Filings
- 4/19/24 - Form 20-F
- 4/19/24 - Form 6-K
- 4/19/24 - Form 6-K
- BRFS's page on the SEC website