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TSN

Tyson Foods

$73.67

-0.78 (-1.05%)

, BYND

Beyond Meat

$0.00

(0.00%)

11:21
04/24/19
04/24
11:21
04/24/19
11:21

Tyson Foods quietly sells stake in Beyond Meat, Axios reports

Tyson Foods (TSN) has quietly sold its stake in Beyond Meat (BYND), which is expected to go public next week at a valuation north of $1B, Axios' Dan Primack reports. Tensions appear to had been rising between the two companies, especially after Tyson CEO Noel White said in February that the poultry giant would develop its own plant-based protein products, the report notes, citing multiple sources. In a statement provided to Axios, Tyson said that, "Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment." Reference Link

TSN

Tyson Foods

$73.67

-0.78 (-1.05%)

BYND

Beyond Meat

$0.00

(0.00%)

  • 06

    May

  • 02

    May

TSN Tyson Foods
$73.67

-0.78 (-1.05%)

02/13/19
JEFF
02/13/19
NO CHANGE
JEFF
Underperform
Jefferies continues to view Sanderson as overvalued, prefers Tyson
Jefferies analyst Akshay Jagdale expects chicken supply to increase ~3% in 2019 driven by incremental capacity, breeder flock expansion, and improved productivity. The analyst, in a research note titled "Don't Count Your Chickens Before They Hatch," says that although chicken demand has "seemingly improved" over the past month, he remains skeptical about its sustainability given the abundance of competing protein supplies expected again in 2019. Jagdale prefers to own diversified chicken processor Tyson Foods (TSN) "at this point in the cycle" and continues to believe Sanderson Farms (SAFM) is overvalued.
03/04/19
SPHN
03/04/19
INITIATION
Target $78
SPHN
Overweight
Tyson Foods initiated with an Overweight at Stephens
Stephens analyst Ben Bienvenu started Tyson Foods with an Overweight rating and $78 price target, stating that he thinks shares are trading at an undeserved, discounted valuation. He likes its diversified product offering, "best in class" operations and "prudent" capital allocation, Bienvenu tells investors.
04/17/19
FBCO
04/17/19
NO CHANGE
Target $74
FBCO
Neutral
Tyson Foods price target raised to $74 from $66 at Credit Suisse
Credit Suisse analyst Robert Moskow raised his price target for Tyson Foods to $74 from $66 as he believes its Chicken and Pork segments are poised to benefit from a potential trade deal, domestic chicken demand is positioned to improve, and Tyson's Keystone chicken business is poised to benefit in Asia if consumers shift to chicken from pork as fears of African Swine Fever spread. The analyst reiterates a Neutral rating on the shares.
04/23/19
GSCO
04/23/19
DOWNGRADE
GSCO
Sell
Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.
BYND Beyond Meat
$0.00

(0.00%)

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