Tyson Foods price target raised to $58 from $50 at Piper Sandler

Piper Sandler raised the firm’s price target on Tyson Foods (TSN) to $58 from $50 and keeps an Underweight rating on the shares. The firm notes the company reported better than expected Q4 EPS, driven by better-than-expected Beef and Chicken margins. Cattle costs likely get worse before they get better, and Piper sees downside risk to unusually favorable beef pricing.