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Actionable news in TSN: TYSON FOODS Inc,

Tyson Foods (TSN) Stock Downgraded at JPMorgan

NEW YORK (TheStreet) -- Tyson Foods (TSN - Get Report) stock was downgraded to "neutral" from "overweight" at JPMorgan on Monday.

The Springdale, AR-based food production company could be affected by high meat inventory and a rising number of cattle on feed, JPMorgan said. The firm kept its $47 price target on the stock.

"Total chicken, pork, and beef in commercial freezers rose 26% Y/Y to 1.95 billion pounds, the highest total ever recorded," the firm said in a note last week. "These data are negative for protein prices because it will take a long time to work through this inventory."

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Tyson continues to lose market share in key packaged meat categories, the firm added in a note today.

"We believe over time, Tyson will shift its portfolio away from commodity meat and more toward branded, higher margin, more stable protein products," JPMorgan said. "But in the meantime, much of the...


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