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Fly News Breaks for August 7, 2018
TSN
Aug 7, 2018 | 09:20 EDT
BMO Capital analyst Kenneth Zaslow lowered his price target on Tyson Foods to $82 after its Q3 earnings missed consensus amid softer chicken margins, while the management maintained a "conservative" FY18 EPS outlook to avoid any more negative surprises and to reflect the market's "immediate conditions". The analyst maintains his Outperform rating longer term, stating that the company is positioned for a sustainable earnings growth on favorable underlying fundamentals, and that Tyson Foods stock "deserves a premium multiple to its history, in light of its structural improvements and capital allocation".
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