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What: Pilgrim's Pride
So what: Chicken producers such as Pilgrim's Pride, Tyson Foods
Now what: Late Tuesday, Pilgrim's CEO said JBS USA Holdings, which owns 67% of Pilgrim's Pride, could lend the company up to $100 million as a "backstop." He acknowledged some investors thought the company would violate its debt covenants, but management doesn't expect that to happen. Today the stock was upgraded to buy from hold by BB&T Capital Markets.
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.