RBC Capital Updates Estimates on Tyson Foods (TSN) Following 4Q - PT to $68
- Wall Street set to open flat as investors test rally
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
- Oil slips on doubts output cut will end global glut
- Pre-Open Stock Movers 12/07: (EMKR) (PLAY) (WDC) Higher; (SIGM) (AVAV) (BLUE) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
- Wedbush Raises Price Target on Capital One Financial (COF) to $90
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!