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Fly News Breaks for September 5, 2018
TSN
Sep 5, 2018 | 07:52 EDT
Argus analyst John Staszak downgraded Tyson Foods to Hold from Buy and also lowered his FY18 EPS view to $6.26 from $6.76 and FY19 view to $7.10 from $7.80, saying the rating change reflects his heightened concerns over the company's increased expenses from higher freight and labor costs. The analyst also points to "soft U.S. demand and weak export sales", along with the potentially negative impact of new tariffs and "global trade tensions". Staszak states that while Tyson Foods valuation of 10-times his expected FY18 earnings is below the 18.8-times peer group average in the large-cap food processors space, it "adequately" reflects the company's "tempered" growth prospects.
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