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TSN

Tyson Foods

$74.38

0.61 (0.83%)

06:41
10/07/16
10/07
06:41
10/07/16
06:41

Tyson Foods downgraded to Sell from Hold at Pivotal Research

Pivotal analyst Timothy Ramey downgraded Tyson Foods to Sell and slashed his price target to $40 from $100 due to the broiler price-fixing alleged in the class action complaint filed on September 2. Ramey said the complain alleges supply collusion occurred through nonpublic data exchange; detailed industry reports compiled on a daily or weekly basis by Agri Stats. Supposedly, the data has telling clues as to the identity of the other industry participants, making it is easy for the industry to collude on production cuts since they provide non-public information to Agri Stats on future production intentions. The analyst wondered why margins improved dramatically over the past seven years in a historically undisciplined industry. Ramey believes the class-action suit has merit and will lead to intense scrutiny of the broiler industry and questions the sustainability of chicken margins. He expects Tyson shares will be pressured until this complex issue is resolved and damages could be very substantial.

TSN Tyson Foods
$74.38

0.61 (0.83%)

06/06/16
06/06/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tyson Foods (TSN) downgraded to Market Perform from Outperform at BMO Capital with the firm citing valuation and rising feed costs. 2. Sturm, Ruger (RGR) downgraded to Hold from Buy at BB&T with the firm saying that consumer demand for firearms appears to be slowing. 3. AbbVie (ABBV) downgraded to Market Perform from Outperform at Cowen with analyst Steve Scala saying the company's analyst meeting last Friday was "solid," but did little to add to long-term visibility, while the Rova-T data reported at ASCO was "underwhelming." Scala cut his price target on AbbVie shares to $70 from $77. 4. Barracuda (CUDA) downgraded to Underperform from Market Perform at JMP Securities with the firm saying its checks show that Barracuda had "a challenging" May quarter. 5. Harley-Davidson (HOG) downgraded to Neutral from Buy at Goldman with analysts led by Patrick Archambault saying U.S. channel checks suggest Q2 registration growth has stalled, despite fewer competitive headwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/16
JEFF
06/07/16
NO CHANGE
Target $70
JEFF
Buy
Jefferies recommends Tyson Foods following recent selloff
Jefferies analyst Akshay Jagdale attributes the recent selloff in protein stocks to the recent rally in grain prices and decline in pork margins. The analyst recommends buying shares of Tyson Foods (TSN) but continues to see "significant further potential downside" in Sanderson Farms (SAFM). Jagdale lowered his price target for Tyson to $70 and keeps a Buy rating on the name. He keeps a Hold rating on Hormel Foods (HRL) with a reduced price target of $34 and Underperform rating on Sanderson with a price target of $60.
07/26/16
CLVD
07/26/16
NO CHANGE
CLVD
Buy
Tyson Foods estimates raised further above consensus at Cleveland Research
Cleveland Research analyst Mike Piken raised Tyson Foods' FY16 and FY17 estimates further above consensus on improved chicken and beef outlook. The analyst is modeling Q3 earnings of $1.11, versus consensus of $1.05, driven by expectations for stronger beef EBIT margins, raised Q4 to $1.08, versus consensus of $1.06, to reflect a strong start for Pork, revised FY16 to $4.40, above consensus of $4.33, and FY17 to $4.79, versus consensus of $4.60. Piken rates Tyson a Buy.
09/19/16
SPHN
09/19/16
NO CHANGE
Target $85
SPHN
Overweight
Stephens makes Tyson Foods new Best Idea in Food and Agribusiness
Stephens analyst Farha Aslam is making Tyson Foods her firm's new Best Idea in Food and Agribusiness as she believes the company is well positioned for long-term growth. Consumers' growing interest in protein rich foods is creating opportunities to innovate new products, create brands in previously commodity categories, and improve margins, she added. Aslam reiterates an Overweight rating and $85 price target on the shares.

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