Tyson Foods Inc Class A
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$96.00 | Rsgy | Vrfxbxgt |
Tyson Earnings: Shares Up Despite Massive Stock Market Slide, but We See More Upside
We don't expect a major change to our $80 fair value estimate for no-moat Tyson based on its June-ended fiscal 2024 third quarter. Most of the quarter was unsurprising, as chicken performed well, pork continued its recovery, prepared foods remained a solid contributor, and beef continued to struggle. The downside looks more muted for the rest of fiscal 2024, as the company narrowed the bottom end of its full-year adjusted operating income guidance by $200 million to $1.6 billion-$1.8 billion. Given the continued recovery, shares were up 2% on a day when the Morningstar US Market Index was down 2.4%.