JBS SA (JBS) PT Raised to $17.50 at UBS

UBS analyst Matheus Enfeldt raised the price target on JBS SA (NYSE: JBS) to $17.50 (from $17.00) while maintaining a Buy rating.

The analyst commented, "We are Buy rated in JBS seeing that the outlook for 2027, but particularly for 2028, is much brighter. On the short term, Seara margins have held better than feared, while Friboi has also held steady - albeit these have been offset by weakness in PPC. That said, and more importantly, a light at the end of the tunnel for US beef has begun to appear - with imports of cattle for Mexico improving supply in 2027 and initial cow retention. Notably, US beef margins should remain close to 0% next year, before starting to deliver healthier contributions in 2028. All in, combined with efficiency gains captured, we view JBS trading at 5% 2027 FCFy, but rising to 10% in 2028 - and thus reiterate our Buy rating."

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