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Fly News Breaks for February 17, 2016
TSN
Feb 17, 2016 | 07:47 EDT
Stephens analyst Farha Aslam upgraded Tyson Foods to Overweight from Equal Weight, arguing that its valuation multiple should move up since its earnings growth and stability, balance sheet and product portfolio are increasingly mirroring that of a consumer packaged food companies. Tyson currently trades with a 14x multiple, compared to packaged food companies that are trading at a 19x-20x forward PE, Aslam noted. The analyst raised her price target on Tyson shares to $75 from $60.
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