Tyson Foods (NYSE:TSN) enjoyed a nice upward rise in share prices at the end of the trading day on news the company generated a profit again in their latest quarter. Goldman Sachs (NYSE:GS) removed them from their "Conviction Sell List" in response to the company's performance.
Goldman still retains a "Sell" on the company though, saying, "we expect feed inflation and lackluster chick prices to drive margin pressure in the Chicken division and subsequent downward revisions."
Tyson enjoyed earnings for the quarter of $213 million, or 57 cents a share, up from their loss last year in the same quarter of $457 million, or $1.23 a share.
Going forward, Tyson said their goal is to increase efficiency at its plants by investing about $700 million in them. Thy also are going to lower their debt and closely manage production at demand levels in order to maintain price points.
Tyson closed Monday at $16.60, gaining $0.96, or 6.14 percent. Goldman as a price target of $15 on them.
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