Citi ups Tyson Foods target, opens ‘positive catalyst watch’

Citi raised the firm’s price target on Tyson Foods to $62 from $57 and keeps a Neutral rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. The firm 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.