RBC Capital Raises Estimates on Tyson Foods (TSN) Following 3Q; Reiterates Sector Perform
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RBC Capital reiterated a Sector Perform rating on Tyson Foods (NYSE: TSN), and raised the price target to $75.00 (from $72.00), following the company's 3Q earnings report. RBC raised FY16 and FY17 EPS estimates from $4.38 and $4.79 to $4.56 and $4.96, both above consensus estimates.
Analyst David Palmer commented, "We are increasing our EPS estimates and price target as a result of higher chicken segment margin forecasts. Our estimates take into account more difficult feed cost comparisons by the end of 2017 and higher levels of investment spending in Prepared Foods. Tyson is rated Sector Perform."
Shares of Tyson closed at $74.07 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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