BUZZ-Smithfield Foods shares up after three brokerages start coverage

Shares of pork producer Smithfield Foods SFD.O up 2% at $21.6 after three brokerages initiate coverage

UBS initiates coverage with 'buy' rating, believes market is under-appreciating SFD's integrated business model and productivity initiatives

Morgan Stanley starts with 'overweight' rating, sees attractive value in a transformed company that can deliver EBITDA growth and resiliency in earnings in a volatile sector

Bank of America Global Research says co's industry leading products, alignment with U.S. consumers' diets, best pork cycle in five years and co's innovation and execution are factors to initiate coverage and rate it 'buy'

Paired with these cost adjustments, SFD is pursuing more premium packaged meats products, which we believe will help the company capture recent consumer trends - UBS

Co returned to the U.S. public market after a decade on January 28 with an IPO price of $20

As of last close, co had a market value of $8.29 billion