Goldman Sachs downgraded Tyson Foods, Inc. (NYSE:TSN) to “neutral” with a price target of $66

Goldman Sachs analyst Adam Samuelson downgraded Tyson Foods, Inc. (NYSE:TSN) from Buy to Neutral and lowered its price target to $66 from $91. The analyst said the company’s first-quarter results showed a sharp deterioration in profitability across the organization and a disappointing shift in margins in its chicken business. He added that with cyclical headwinds from declining cattle supply set to increase in fiscal year 2024-2025 and further weigh on profitability in the beef business, continued profitability improvement in chicken and prepared foods is critical to its previous positive rhetoric about Tyson Foods.

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