Tyson Foods upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Tyson Foods (TSN) to Outperform from Market Perform with a price target of $67, up from $60. The firm believes improving industry beef margins in the U.S., driven by capacity rationalization, will combine with solid chicken and pork fundamentals to create stronger earnings outlook for Tyson. This dynamic is not reflected in the shares, the analyst tells investors in a research note. BMO sees a favorable risk/reward at current levels.