D.A. Davidson Previews Tyson Foods - Expected Q2 Drop YoY
D.A. Davidson provided color on Tyson Foods (NYSE: TSN) and previewed the company ahead of its Q2 2012 earnings release Monday, May 7 before market open. D.A. Davidson has a Buy rating and $24 price target on the company.
In the report, D.A. Davidson stated that it expects increased sales in Tyson Foods' beef, chicken, and pork segments as well as its prepared food segment. D.A. Davidson is looking for operating EPS of $0.37 versus the Street consensus of $0.39, down from $0.42 in Q2 2011.
D.A. Davidson appeared positive on the company, stating in the report that, "[t]his continues to be a favorable operating environment for Tyson Foods. The company is benefitting from operational efficiencies, lower protein supplies, strong export demand, as well as the multi-protein platform."
Shares of Tyson Foods closed today at $18.33, down 0.11% from Monday's market close.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.