Expect more deals in the food sector this year as companies grapple with low-volume world ...Middle East

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Expect more deals in the food sector this year as companies grapple with low-volume world
Investors can expect to see more deal activity in the U.S. food sector in 2024, as companies are still seeking to improve the growth profile of their portfolios in a low-volume environment. That’s the view of Stifel analysts in a note published Thursday, in which they reiterated a neutral rating on the group, given a valuation that’s a roughly 20% discount to the S&P 500. “While valuation remains compelling in relation to history for the food stocks, we remain cautious, reflecting the uncertainty in revenue-growth pacing in 2024 as volumes remain soft, the risk of accelerated privatelabel market-share gains, and potential for increased promotional activity,” analysts led by Matthew E. Smi

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