KeyBanc Upgrades Tyson (TSN) to Buy; More Confidence After Meeting With Management
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Price: $60.97 -0.57%
Rating Summary:
13 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
13 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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KeyBanc upgraded Tyson (NYSE: TSN) from Hold to Buy. PT $23.
KeyBanc analyst says, "After meeting with Donnie King, Senior Group VP, Poultry and Prepared Foods, last week at an industry conference and analyzing all the strategic and operational changes management has made to it chicken business, we now have more confidence in the Company's ability to deliver normalized chicken margins of at least 5% (compared to our previous estimate of 4% and the Company's guidance range of 5-7%). Furthermore, based on our channel checks with chicken lenders and other industry insiders, we now believe that chicken production cuts in 2H11 are more likely and should prove to be catalysts for the stock...We are increasing our normalized EPS estimate to $2.12 (from $1.70) before owing mainly to an increase in our normalized chicken margin assumption."
For more ratings news on Tyson click here and for the rating history of Tyson click here.
Shares of Tyson closed at $18.56 yesterday.
KeyBanc analyst says, "After meeting with Donnie King, Senior Group VP, Poultry and Prepared Foods, last week at an industry conference and analyzing all the strategic and operational changes management has made to it chicken business, we now have more confidence in the Company's ability to deliver normalized chicken margins of at least 5% (compared to our previous estimate of 4% and the Company's guidance range of 5-7%). Furthermore, based on our channel checks with chicken lenders and other industry insiders, we now believe that chicken production cuts in 2H11 are more likely and should prove to be catalysts for the stock...We are increasing our normalized EPS estimate to $2.12 (from $1.70) before owing mainly to an increase in our normalized chicken margin assumption."
For more ratings news on Tyson click here and for the rating history of Tyson click here.
Shares of Tyson closed at $18.56 yesterday.
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