BMO Capital Downgrades This Processed Meat Producer - Read Why - Tyson Foods (NYSE:TSN)

BMO Capital analyst Kenneth Zaslow downgraded Tyson Foods Inc TSN to Market Perform from Outperform with a price target of $99 (13% upside), down from $115.
The analyst said that the company will not exceed expectations in FY23, reflecting the rapid return to normal beef margins, pressure on pork margins, and inflation in prepared foods.
Zaslow reduced 2023 estimates as he expected lower beef packer margins to offset the chicken improvement.
He added that Tyson shares outperformed the S&P 500 index over the previous year and year-to-date.
Price Action: TSN shares closed lower by 2.57% at $87.64 on Friday.

Momentum59.44

Growth13.71

Quality75.21

Value58.27

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BMO Capital Downgrades This Processed Meat Producer - Read Why