Piper Jaffray Keeps Their Buy Rating on Tyson Foods

By Carrie Williams

In a report released yesterday, Michael Lavery from Piper Jaffray reiterated a Buy rating on Tyson Foods (NYSE: TSN), with a price target of $70. The company’s shares closed yesterday at $58.72, close to its 52-week low of $58.33.

According to TipRanks.com, Lavery is a 1-star analyst with an average return of -1.4% and a 52.2% success rate. Lavery covers the Consumer Goods sector, focusing on stocks such as British American Tobacco, Mondelez International, and Pinnacle Foods.

Currently, the analyst consensus on Tyson Foods is a Moderate Buy with an average price target of $72.38, a 23.3% upside from current levels. In a report issued on July 25, Mizuho Securities also reiterated a Buy rating on the stock with a $87 price target.

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Based on Tyson Foods’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.8 billion and net profit of $315 million. In comparison, last year the company earned revenue of $9.81 billion and had a net profit of $447 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock.

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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.