Pivotal Research Upgrades Tyson (TSN) to Hold
Pivotal Research upgraded Tyson (NYSE: TSN) from Sell to Hold with a price target of $75.00 (from $40.00) following the Q4 EPS beat on strong beef results.
Analyst Timothy Ramey said it they've been wrong on their Sell call. While shares have underperformed, they were too early to call the top on margins and there appears to be less legal risk than they might have expected.
The firm remains skeptical on the margin outlook but raises shares to Hold.
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Shares of Tyson closed at $74.14 yesterday.