Hormel Foods Corp (HRL) has disclosed a new risk, in the Technology category.
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Hormel Foods Corp faces significant risks if it does not timely replace its legacy technologies. As the company invests heavily in updating its IT infrastructure, delays could heighten the risk of cybersecurity incidents, particularly if vendors discontinue security updates. Prolonged reliance on outdated systems could escalate IT maintenance costs, increase system downtime, and hinder the adoption of innovative technologies and sophisticated data analytics. The company’s ability to modernize its operations and maintain competitiveness in the market may be compromised if these challenges are not addressed promptly.
Overall, Wall Street has a Hold consensus rating on HRL stock based on 1 Buy, 2 Sells and 3 Holds.
To learn more about Hormel Foods Corp’s risk factors, click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
