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TSN

Tyson Foods

$78.53

-3.4 (-4.15%)

, PPC

Pilgrim's Pride

$25.31

-0.98 (-3.73%)

05:51
06/18/19
06/18
05:51
06/18/19
05:51

Mizuho lowers near-term estimates across protein space

Mizuho analyst Jeremy lowered his near-term estimates across the protein space to reflect higher feed costs. Progress reports and persistent flooding in the Midwest suggest "unrecoverable gaps" to projected harvest acreage and a tighter supply in the U.S., Scott tells investors in a research note. Further, a "substantial drop" in soy demand from China and corn demand from other African Swine Fever-impacted regions should help offset the U.S. supply shortfall, adds the analyst. Scott reduced his estimates to reflect the risk of feed cost inflation over the next twelve months, but maintains Buy ratings on Tyson Foods (TSN), Pilgrim's Pride (PPC) and Sanderson Farms (SAFM).

TSN

Tyson Foods

$78.53

-3.4 (-4.15%)

PPC

Pilgrim's Pride

$25.31

-0.98 (-3.73%)

SAFM

Sanderson Farms

$133.50

-10.73 (-7.44%)

  • 18

    Jun

  • 20

    Jun

  • 13

    Nov

TSN Tyson Foods
$78.53

-3.4 (-4.15%)

06/13/19
FBCO
06/13/19
NO CHANGE
FBCO
Tyson plant-based launch not big threat to Beyond Meat, says Credit Suisse
Credit Suisse analyst Robert Moskow says this morning's launch of plant-based chicken nuggets and patties and hybrid beef-plant burgers and sausages supports his positive view on Tyson Foods (TSN). Perdue and Hormel Foods (HRL) have also signaled similar intentions to pursue hybrid meats, Moskow tells investors in a research note. The analyst, however, does not view Tyson's hybrid burgers as a major threat to Beyond Meat (BYND). Beyond's burger products are "more revolutionary and broader" in terms of potential consumer appeal, contends Moskow. Although competing hybrid burgers offer less saturated fat than the 100% plant-based products from Beyond and Impossible, "they simply don't taste as good in our experience," writes the analyst. Shares of Beyond Meat are down $1.04 to $140.93 in early trading while Tyson Foods is up $1.92 to $83.82.
05/14/19
05/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tyson Foods (TSN) upgraded to Outperform from Neutral at Credit Suisse and to Buy from Hold at Argus. 2. Coca-Cola (KO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying the company's growth outlook is "clearly superior" relative to the packaged goods space, but this is not reflected in the current share price. 3. Capital One (COF) upgraded to Buy from Hold at Jefferies with analyst John Hecht saying he expects the stock to benefit from "bigger payouts and improving efficiencies." 4. Deckers Brands (DECK) upgraded to Positive from Neutral at Susquehanna. 5. Agco (AGCO) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying given Agco's limited exposure to the U.S. row crop sector, the recent sell-off in the shares is overdone. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/19
05/14/19
UPGRADE
Target $96

Outperform
Tyson Foods upgraded to Outperform at Credit Suisse
As previously reported, Credit Suisse analyst Robert Moskow upgraded Tyson Foods to Outperform from Neutral and raised his price target on the shares to $96 from $74. The analyst notes that consensus estimates already factor in stronger Chicken margins based on a rebound in the U.S. supply-demand cycle domestically. However, he does not think they fully account for the upside to chicken, beef, and pork prices from the outbreak of African Swine Fever.
05/14/19
ARGS
05/14/19
UPGRADE
ARGS
Buy
Tyson Foods upgraded to Buy from Hold at Argus
Argus analyst John Staszak upgraded Tyson Foods to Buy with a price target of $92, also raising his FY19 EPS view by 10c to $6.20 and his FY20 target by 25c to $6.75. The analyst contends that the "growing demand for proteins" is positive for the company and other meat processors, with Tyson's beef division seeing an "especially strong demand". Staszak further cites the company's efforts to increase sales of prepared foods to meet the "steady demand and strong margins" while noting the 12.8-times forward earnings multiple on Tyson Foods stock, which is below the average large-cap food processor multiple of 18.4-times and in the lower half of its historical 9- to 19-times range.
PPC Pilgrim's Pride
$25.31

-0.98 (-3.73%)

08/03/18
SPHN
08/03/18
NO CHANGE
Target $26
SPHN
Overweight
Chicken down cycle already priced into Pilgrim's Pride shares, says Stephens
Stephens analyst Farha Aslam believes Pilgrim's Pride shares are already pricing in the lack of visibility regarding the poultry cycle with the stock's valuation at a five year trough despite the fact that she thinks Pilgrim's Pride "is a better company today than 5 years ago." The analyst, who points to improved U.S. assets, a better product mix and operations in Mexico and the addition of Moy Park in Europe to support her improvement view, keeps an Overweight rating and $26 price target on Pilgrim's Pride.
05/03/19
BMOC
05/03/19
NO CHANGE
Target $31
BMOC
Market Perform
Pilgrim's Pride price target raised to $31 from $20 at BMO Capital
BMO Capital analyst Kenneth Zaslow raised his price target on Pilgrim's Pride to $31 after its in-line Q1 earnings driven by a "favorable" tax rate and lower interest rate, while its operating performance was worse than expected on high feed costs and softer Mexican chicken demand. The analyst believes that the company's earnings power will be magnified by its "unique" strategy and internal operational improvements over the next two years, but also sees the valuation on the stock as appropriate.
05/22/19
CLVD
05/22/19
UPGRADE
CLVD
Buy
Pilgrim's Pride upgraded to Buy from Neutral at Cleveland Research
03/04/19
SPHN
03/04/19
INITIATION
Target $26
SPHN
Overweight
Pilgrim's Pride initiated with an Overweight at Stephens
Stephens analyst Ben Bienvenu started Pilgrim's Pride with an Overweight rating and $26 price target, telling investors that he likes its scale in all of its major geographies and efforts to grow its mix of prepared food and value-added chicken offerings.
SAFM Sanderson Farms
$133.50

-10.73 (-7.44%)

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.
04/23/19
04/23/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette citing his view that the market has "not yet fully appreciated" the impact of the company's settlement with Apple (AAPL), which he thinks not only increases earnings substantially while also expanding the freedom with which Qualcomm can pursue new opportunities. 2. Kimberly-Clark (KMB) upgraded to Buy from Hold at Argus and to Outperform from Neutral at Macquarie. 3. Sanderson Farms (SAFM) upgraded to Neutral from Sell at Goldman Sachs with analyst Adam Samuelson saying African swine fever is upending the protein markets, Samuelson tells investors in a research note. 4. Visteon (VC) upgraded to Outperform from Neutral at Baird while Veoneer (VNE) was upgraded to Neutral from Underperform. 5. Sony (SNE) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/22/19
CLVD
05/22/19
UPGRADE
CLVD
Buy
Sanderson Farms upgraded to Buy from Neutral at Cleveland Research
04/23/19
GSCO
04/23/19
UPGRADE
Target $131
GSCO
Neutral
Sanderson Farms upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Adam Samuelson upgraded Sanderson Farms to Neutral from Sell and raised his price target for the shares to $131 from $81. African swine fever is upending the protein markets, Samuelson tells investors in a research note.

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DOYU

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