Analysts are Downgrading These 5 Stocks

3. Tyson Foods, Inc. (NYSE:TSN)

Number of Hedge Fund Holders: 37

BofA lowered its ratings for Tyson Foods, Inc. (NYSE:TSN) from “Neutral” to “Underperform” on Wednesday, November 9. Analyst Peter Galbo was primarily moved by deteriorating macro factors and decreasing chicken prices.

Galbo expects beef margins to drop further through 2024. He also cut his price target for Tyson Foods, Inc. (NYSE:TSN) from $73 per share to $61 per share.

Meanwhile, Tyson Foods, Inc. (NYSE:TSN) delivered mixed financial results for its fiscal fourth quarter on Monday, November 14. The processed meat producer reported adjusted earnings of $1.63 per share, down from $2.30 per share in the same period of 2021. Revenue came in at $13.74 billion, up 7.2 percent on a year-over-year basis. Analysts were looking for earnings of $1.70 per share on revenue of $13.49 billion.

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