Fly News Breaks for February 20, 2020
Feb 20, 2020 | 08:43 EDT
Buckingham analyst Eric Larson lowered his price target for Tyson Foods to $85 from $92 and maintained a Neutral rating. In a research note to investors, Larson says the stock now discounts a reasonable recovery in chicken and pork margins driven by rising demand prospects from China's ASF outbreak. Near-term fundamentals are challenging, including excessive domestic protein supplies and normal seasonality in beef and pork, and says the real impact of ASF could be more delayed toward 2H20, which could weigh on the stock price near-term.
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