BB&T Capital Markets Raises Tyson Foods FY 2011, Initiates FY 2012 Estimates (TSN)

BB&T Capital Markets raised its Tyson Foods

FY 2011 estimates to $2.09 from $1.55 and initiated a FY 2012 EPS estimate of $1.86 in a research report published today. In the report, BB&T Markets states, "TSN reported Q1'11 EPS of $0.75 as compared to our estimate of $0.59 and consensus of $0.62. Sales were very strong and benefitted from better than-expected volumes in chicken and pork, relative to our estimate. EBIT was $498M compared to our $415M estimate, driven largely by stronger-than-expected pork results. Net debt/EBITDA is now just 0.7x our F'11 estimate." Shares of Tyson Foods were at $18.56 in pre-market trading at the time of posting, reflecting no change from Friday's market close.