Tyson Foods profit slumps in 1Q FY23 as higher costs squeeze margins

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Go back to Tyson Foods profit slumps in 1Q FY23 as higher costs squeeze margins

Goldman Sachs sidelined on Tyson Foods (TSN) as 1Q miss shows deterioration in profitability

February 7, 2023 7:54 AM EST

Goldman Sachs downgraded Tyson Foods (NYSE: TSN) to a Neutral rating (From BUY) and cut the price target on the stock to $66.00 (from $91.00) following the food companys 1Q23 earnings report. The results revealed a sharp deterioration in profitability across the organization, most notably in Chicken, undermining confidence that the cumulative effect of recent operational and strategic changes could sustainability improve margins and earnings for the... More