RBC Capital Raises Estimates on Tyson Foods (TSN) Following 3Q; Reiterates Sector Perform

RBC Capital reiterated a Sector Perform rating on Tyson Foods (NYSE: TSN), and raised the price target to $75.00 (from $72.00), following the company's 3Q earnings report. RBC raised FY16 and FY17 EPS estimates from $4.38 and $4.79 to $4.56 and $4.96, both above consensus estimates.

Analyst David Palmer commented, "We are increasing our EPS estimates and price target as a result of higher chicken segment margin forecasts. Our estimates take into account more difficult feed cost comparisons by the end of 2017 and higher levels of investment spending in Prepared Foods. Tyson is rated Sector Perform."

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 $74.07 yesterday.

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