Information Provided By:
Fly News Breaks for May 8, 2018
TSN
May 8, 2018 | 08:19 EDT
RBC Capital analyst David Palmer lowered his price target on Tyson Foods to $80 and kept his Sector Perform rating after its Q2 earnings miss. Palmer notes that while the quarter is typically the company's least profitable due to seasonality, this time the results and the FY18 outlook were weighed down even further by pressures around freight, labor, and feed costs as well as weather-related disruptions. The analyst lowers his FY18 EPS target to $6.55 from $6.58 but anticipates margins to improve by FY19 as Tyson Foods benefits from the "ongoing AdvancedPierre synergies and pricing actions".