RBC Capital Updates Estimates on Tyson Foods (TSN) Following 4Q - PT to $68
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RBC Capital maintained a Sector Perform rating on Tyson Foods (NYSE: TSN), and cut the price target to $68.00 (from $75.00), following the company's 4Q earnings report. RBC cut FY17 and FY18 EPS estimates from $5.02 and $5.46 to $4.80 and $5.13.
Analyst David Palmer commented, "We are lowering our estimates and price target following yesterday's disappointing fiscal 4Q16 results. We believe that certain onetime issues will partially reverse next quarter. That said, the impact of soy meal price volatility on Chicken profitability and EPS was a reminder of heightened commodity risk after 2-3 years of extended deflation tailwinds. We will be watching commodity inputs closely over the coming months, as well as retail volume trends given plans to increase investment spending. Maintain Sector Perform."
Shares of Tyson closed at $57.60 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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