Citi opens ‘positive catalyst watch’ on Tyson Foods into earnings

Citi opened a “90-day positive catalyst watch” on shares of Tyson Foods and keeps a Buy rating on the name with a $62 price target. The analyst thinks an earnings beat and guidance raise are likely when the company reports fiscal Q2 results in early May, aided by a favorable industry environment, especially for its chicken and pork processing businesses. The chicken industry is benefiting from improving prices and falling input costs, and pork processing margins are much improved year-over-year, the analyst tells investors in a research note.