Tyson Foods (NYSE: TSN)‘s stock had its “outperform” rating reaffirmed by Zacks in a research note issued on Thursday, StocKRatingsNetwork.com reports. They currently have a $28.00 price target on the stock.
Zacks‘ analyst wrote, “Tyson’s first-quarter 2013 adjusted earnings of $0.48 per share surpassed the Zacks Consensus Estimate by 23.1%. Earnings also increased an impressive 14.3% year over year backed by strong sales in the Chicken segment coupled with operational efficiencies. The rising demand for chicken coupled with positive pricing is helping the company reap wider margins in the segment.
On the other hand, closure of a rival’s plant is expected to boost sales in the Beef segment, going forward. Overall, Tyson is working on growing its prepared foods, international poultry and value-added poultry businesses by producing high-quality foods as per changing consumer demand by using innovative and cost effective processes. Moreover, the growing middle class with its increasing demand for protein is opening up a huge market for the company. Hence, we maintain our Outperform rating on the stock.”
TSN has been the subject of a number of other recent research reports. Analysts at KeyBanc reiterated a “buy” rating on shares of Tyson Foods in a research note to investors on Tuesday, April 2nd.
They now have a $28.00 price target on the stock. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Tyson Foods in a research note to investors on Thursday, March 28th. They now have a $28.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a research note to investors on Wednesday, March 13th. They now have a $28.00 price target on the stock.
One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.42.
Shares of Tyson Foods (NYSE: TSN) traded up 0.04% during mid-day trading on Thursday, hitting $23.60. Tyson Foods has a one year low of $14.07 and a one year high of $25.10. The stock’s 50-day moving average is currently $23.85. The company has a market cap of $8.367 billion and a P/E ratio of 14.40.
Tyson Foods (NYSE: TSN) last released its earnings data on Friday, February 1st. The company reported...
Source: Argentine Beef Packers S.A.
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