BMO Capital analyst Andrew Strelzik raised the firm’s price target on Tyson Foods (TSN) to $73 from $67 and keeps an Outperform rating on the shares. The company’s Q1 operating profit outpaced consensus by 4%-5% as upside in Chicken, Pork, and Prepared Foods – PF – more than offset weaker Beef, the analyst tells investors in a research note. Tyson’s operational improvements are showing through, and the firm continues to see upside as improvement in beef margins begins to pair with solid chicken/pork fundamentals and stronger PF growth, BMO added.
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