The only major meat company to beat JBS SA in the stock market this week is owned by the Brazilian giant.
The world’s largest meat producer and its Pilgrim’s Pride Corp. unit both gained about 9 percent in the past five days, outperforming peers. JBS shares are at three-year highs and its bond spreads are the tightest versus rival Tyson Foods Inc. since March 2017 as demand prospects brighten and the company moves past a 2017 corruption scandal, spurring renewed optimism it will finally proceed with an initial public offering in New York.
Sao Paulo-based JBS has beef, pork and chicken operations spanning North America, Europe and Australia. Its market value has climbed $1.8 billion since quarterly results in November topped estimates.
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