Mizuho Securities Reaffirms Their Buy Rating on Tyson Foods (TSN)

By Jason Carr

In a report released today, Jeremy Scott from Mizuho Securities maintained a Buy rating on Tyson Foods (TSNResearch Report), with a price target of $82. The company’s shares opened today at $59.57.

Scott observed:

“We maintain our Buy rating on 1Q19 EBITDA result of $1.09b, in line with our estimates with better results in prepared foods and beef offsetting a tough quarter in chicken, as expected, and softer volumes in pork. Ahead of the release, the company announced the $340m acquisition of the Thai and European assets of BRF at a ~10x multiple on normalized EBITDA, which represents another step-change in its international exposure. We are raising our FY19/20 estimates to $6.08/6.30 from $6.01/6.20 as we adjust our amortization estimates and layer in the BRF acquisition. Maintain price target of $82.”

According to TipRanks.com, Scott is a 1-star analyst with an average return of -1.6% and a 43.9% success rate. Scott covers the Services sector, focusing on stocks such as Dunkin’ Brands, Starbucks Corp, and Chipotle.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tyson Foods with a $66.83 average price target.

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Tyson Foods’ market cap is currently $21.53B and has a P/E ratio of 7.43. The company has a Price to Book ratio of 1.68.

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Tyson Foods, Inc. engages in the production of processed food. It operates through the following segments: Chicken, Beef, Pork, and Prepared Foods. The Chicken segment involves in domestic operations related to raising and processing live chickens into fresh, frozen, and value-added chicken products, as well as sales from allied products.