Here's Why Shares of Tyson are Higher in Tuesday's Session
The food giant's shares were climbing on news of its stake in the plant-based protein producer.
Shares of food giant Tyson Foods (TSN) - Get Report were up Tuesday after the food company acquired a 5% stake in Calfiornia-based Beyond Meat, a producer of plant-based proteins. The move is aimed at helping Tyson broaden its footprint in the U.S. meat-processing industry, especially with the adoption of Beyond Meats lineup of pea-protean based burgers. Share gains were also helped by an analyst upgrade by BMO Capital Markets to OUTPERFORM from MARKET PERFORM, and a price target hike to $84 from $77.
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