UPDATE: Piper Sandler Downgrades Tyson (TSN) to Neutral
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(Updated - May 10, 2021 5:26 PM EDT)
Piper Sandler analyst Michael Lavery downgraded Tyson (NYSE: TSN) from Overweight to Neutral with a price target of $79 (from $77). The analyst said the valuation may not reflect the near-term risks.
"We expect strong near-term momentum to continue in the Beef segment, but also expect further near-term headwinds and uncertainty (e.g. input cots, trajectory of Chicken recovery), and valuation does not appear to reflect near-term risks," the analyst commented.
Shares of Tyson closed at $78.82 yesterday.
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