RBC Capital Starts Tyson (TSN) at Outperform

RBC Capital initiates coverage on Tyson (NYSE: TSN) with a Outperform rating and a price target of $48.00.

Analyst David Palmer comments, "At a P/E valuation that is ~2x turns below protein peers, Tyson Foods represents a compelling investment opportunity--particularly as it continues to enjoy the benefits of the current chicken cycle. We believe branded business growth and synergies from Hillshire--along with longer-term improvement in beef production--suggest upside to our MSD EPS growth estimates beyond FY15."

For an analyst ratings summary and ratings history on Tyson click here. For more ratings news on Tyson click here.

Shares of Tyson closed at $39.87 yesterday.

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