Barclays Maintains Underweight Rating for Tyson Foods: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has maintained its Underweight rating for Tyson Foods (NYSE:TSN) but raised its price target from $50.00 to $53.00. Despite the upgrade, the new target suggests a potential 9.0% decline from Tyson's current share price of $58.24. Tyson Foods, a major protein-focused food producer, faces stiff competition in its product categories, with only a small portion of its revenue coming from international markets.
February 06, 2024 | 5:00 pm
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Barclays maintains its Underweight rating on Tyson Foods but raises its price target from $50 to $53, indicating a potential 9% decline from the current price.
The adjustment in price target by Barclays, despite being an increase, still suggests a negative outlook for Tyson Foods' stock price in the short term. Given the current trading price of Tyson Foods is above the new target, this implies Barclays expects the stock to underperform, leading to a potential decrease in its market value. The detailed company profile indicating stiff competition and limited international exposure supports the rationale behind the Underweight rating and the anticipated downward price movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100