Pilgrims Pride (PPC) saw significant selling pressure on Monday after it was downgraded to a Neutral rating at Credit Suisse and had its price target cut to $19. Shares gapped open lower and eased throughout most of Monday's trading, before paring some of its loss in the late afternoon.
The stock extended a downtrend that began in late May and closed at its lowest level since December 2003, down $1.55 at $16.84.
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