Report
Zain Akbari, CFA
EUR 98.48 For Business Accounts Only

While the AdvancePierre purchase adds differentiated products, Tyson’s margins should remain tight.

Our $59 per share valuation for no-moat Tyson should rise about 5% after it posted on-track second-quarter earnings, mostly due to a reassessment of its long-term U.S. corporate tax rate as we incorporate our expectations for 2018 reform. Through the first half, Tyson posted a 0.3% sales decline against an 8.8% adjusted operating margin—70 basis points of expansion versus the first half of 2016—against our full-year expectations of a 0.7% sales dip and 8.4% profitability mark (also 70 basis poin...
Underlying
Tyson Foods Inc. Class A

Tyson Foods is a food company. The company's operations consist of breeding stock, contract farmers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Through its wholly-owned subsidiary, Cobb-Vantress, Inc., the company is engaged as poultry breeding stock supplier. The company also processes live fed cattle and hogs and fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, case-ready beef and pork and fully-cooked meats. The company produces a range of fresh, frozen and refrigerated food products. The company operates in Beef, Pork, Chicken and Prepared Foods segments.

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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