Report
Zain Akbari, CFA
EUR 101.80 For Business Accounts Only

On Track First-Quarter Results Leave Tyson Set to Benefit From Protein Demand; Shares Fairly Valued

Our $75 per share valuation for no-moat Tyson should not change materially after it posted first-quarter earnings that leave it poised to meet our full-year targets. We continue to forecast 4% annual top-line growth and 8% adjusted operating margins, on average, through fiscal 2027.
Quarterly sales rose 11% against a 9% adjusted operating margin. Management still expects $41 billion in fiscal 2018 sales (matching our target) but boosted its adjusted diluted EPS guidance to $6.55 to $6.70 from $5...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Zain Akbari, CFA

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