Loading...
Loading...
J.P. Morgan is reducing its estimates on Tyson Foods, Inc.
TSN as follows: FY11 (September) to $1.44 from $1.73 and FY12 to $1.84 from $1.93.
“The risk to TSN from corn is lower than to Sanderson Farms, Inc.
SAFM because TSN also has large beef and pork businesses that buy no feed,” J.P. Morgan writes. “Yet our estimates are reduced not only because of chicken/corn but also because we have lowered our expectations for pork and beef packing margins given higher input costs.
“Our new Dec-11 target price of $15 implies about 10% downside, though per guidance we anticipate a strong December quarter.”
Tyson Foods closed Wednesday at $16.83.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in