UPDATE: Cleveland Research Downgraded Tyson Foods
Cleveland Research analyst Michael Piken downgraded Tyson Foods (NYSE: TSN) from Buy to Neutral and lowered the price target from $35 to $30.
Piken lowered his rating and price target due to weaker expectations for beef processing. Cleveland Research lowered the outlook across all of Tyson's segments.
Bloomberg's average price target for Tyson is $35. Tyson is down over the average three-month volume as much as 2.4%. Tyson Foods closed at $28.53 on Wednesday.
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