Stephens Reiterates Overweight Rating on Tyson (TSN)
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Rating Summary:
13 Buy, 14 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Stephens analyst Ben Bienvenu reiterated an Overweight rating and $95.00 price target on Tyson (NYSE: TSN) as the company releases updated guidance. Short-term challenges have negatively impacted 4Q earnings. Guidance was reduced by $0.43 at the midpoint to $5.30 - $5.70, from $5.75 - $6.10 previously and well below consensus estimates of $5.93.
While the magnitude of the guide down will likely weigh on the stock, given the outperformance seen recently Bienvenu sees many of these issues as transitory in nature and remains positively inclined on the stock moving into FY20 given the backdrop of ASF driven protein inflation.
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 $93.29 yesterday.
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