Tyson Foods seen feeling impact from restaurant closings [Seeking Alpha]
Bed Bath & Beyond Inc. (BBBY)
Last bed bath & beyond inc. earnings: 4/15 04:15 pm
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Source: Seeking Alpha
Consumer|On the MoveTyson Foods seen feeling impact from restaurant closingsApr. 3, 2020 7:43 AM ETTyson Foods, Inc. (TSN)Clark SchultzCredit Suisse lowers its price target on Outperform-rated Tyson Foods (NYSE:"The spike in demand for chicken from the grocery channel over the past two weeks is starting to fade (now that consumers and grocers have filled their freezers with inventory) and is no longer sufficient to offset the 50% decline in demand in the restaurant sector," notes the firm.CS thinks the supply/demand imbalance will cause Tyson's chicken margins to drop below their normal algorithm of 5% to 7%.Shares of Tyson aredown 0.28%See all stocks on the move »Now read:Legal squabble between Bed Bath & Beyond and 1-800-Flowers.com »
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