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TSN

Tyson Foods

$67.63

-0.61 (-0.89%)

09:09
05/15/18
05/15
09:09
05/15/18
09:09

Tyson Foods acquires poultry rendering, blending assets of American Proteins

Subsidiaries of Tyson Foods have agreed to buy the poultry rendering and blending assets of American Proteins, Inc. and AMPRO Products, Inc., the companies announced today. The acquisition is expected to enable Tyson Foods to recycle more animal products for feed, pet food and aquaculture, among other things, and expand its presence in the growing animal feed ingredient business. The agreement is subject to customary closing conditions, including regulatory approval. Rendering is an environmentally friendlier way to keep animal products out of landfills and potentially reduce greenhouse gas emissions. According to the National Renderers Association, rendering's contribution to carbon emission reduction in the U.S. and Canada is equivalent to removing more than 12 million cars from the road annually. The purchase price is approximately $850 million. Over the next 12 months, the business is expected to generate adjusted net sales of more than $550 million. Tyson expects to realize synergies over time driven by manufacturing efficiencies, mix optimization and distribution network consolidation.

  • 16

    May

TSN Tyson Foods
$67.63

-0.61 (-0.89%)

05/11/18
05/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tyson Foods (TSN) initiated with an Outperform at Bernstein. 2. Dexcom (DXCM) initiated with a Buy at BofA/Merrill. 3. Riot Blockchain (RIOT) initiated with a Buy at H.C. Wainwright. 4. American Eagle (AEO) initiated with an Outperform at Wedbush, while Abercrombie & Fitch (ANF) , Express (EXPR) initiated with a Neutral at Wedbush, and Lululemon (lulu) were initiated with a Neutral. 5. Lincoln National (LNC) reinstated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/18
BERN
05/10/18
INITIATION
Target $81
BERN
Outperform
Tyson Foods initiated with an Outperform at Bernstein
Bernstein initiated Tyson Foods with an Outperform and $81 price target.
05/08/18
FBCO
05/08/18
NO CHANGE
Target $71
FBCO
Neutral
Tyson Foods price target lowered to $71 from $78 at Credit Suisse
Credit Suisse analyst Robert Moskow lowered his price target for Tyson Foods to $71 from $78 as freight inflation and weather problems "bruise" FY18. The analyst reiterates a Neutral rating on the shares.
05/08/18
RBCM
05/08/18
NO CHANGE
Target $80
RBCM
Sector Perform
Tyson Foods price target lowered to $80 at RBC Capital on rising cost pressure
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".

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