NEW YORK (TheStreet) -- Tyson Foods (TSN) shares are up 3.3% to $42.04 in early market trading on Friday after the chicken, beef and pork food distributor was added to Goldman Sachs' "conviction buy" list earlier today.
The firm believes that the company's full value has not been realized by the market citing its acquisition of rival Hillshire Farms in late August as the reason for its upgraded outlook.
The merged companies expect to see over $40 billion in annual revenue with synergy savings expected to go from $225 million in fiscal 2015 to more than $500 million by 2017.
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TheStreet Ratings team rates TYSON FOODS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate TYSON FOODS INC (TSN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: