JPMorgan Downgrades Tyson (TSN) to Neutral, $12 Target

JPMorgan downgrades Tyson Foods (NYSE: TSN) from Overweight to Neutral. The firm also reduced its price target from $14 to $12.

The firm cited several reasons, including:

• valuation
  
• a pending increase in supply from Sanderson Farms (Nasdaq: SAFM), and
  
• recent rises in the price of corn and hogs.

JPMorgan also noted that the downgrade is not a short call, rather a call that upside is already priced into the stock. The firm believes that Tyson will top the Street's estimates in Q3.

Visit our Analyst Ratings page to see all the upgrades/downgrades on shares of Tyson.

Tyson Foods, Inc., together with its subsidiaries, engages in the production, distribution, and marketing of chicken, beef, pork, prepared foods, and related allied products worldwide.

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