Tyson Foods Gets Price Target Cuts From Analysts After Q2 Earnings

Tyson Foods, Inc. TSN reported a loss for the second quarter and cut its FY23 financial outlook.

Tyson reported second-quarter FY23 sales growth of 0.12% year-on-year to $13.13 billion, missing the consensus of $13.62 billion. Adjusted EPS of $(0.04) missed the analyst consensus of $0.80.

Tyson Foods cut its FY23 revenue outlook to $53 billion - $54 billion (previously $55 billion - $57 billion) versus the consensus of $55.04 billion.

Tyson Foods shares dropped 16.4% to close at $50.73 on Monday, but added 0.4% in today’s pre-market trading.

These analysts made changes to their price targets on Tyson Foods after the company reported quarterly results.

• Barclays cut the price target on Tyson Foods from $58 to $52. Barclays analyst Benjamin Theurer maintained an Underweight rating on the stock.
• Bernstein lowered Tyson Foods price target from $75 to $64. Bernstein analyst Alexia Howard maintained an Outperform rating on the stock.
• B of A Securities cut Tyson Foods price target from $56 to $48. B of A Securities analyst Peter Galbo maintained an Underperform rating on the stock.
• Goldman Sachs lowered the price target on Tyson Foods from $64 to $55. Goldman Sachs analyst Adam Samuelson maintained the stock with a Neutral.

Read More: Investor Optimism Improves Ahead Of Inflation Data