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Tyson, Smithfield downgraded, citing beef ban and high hog prices

by 5m Editor
22 October 2004, at 12:00am

US - Citing bans on U.S. beef abroad and abnormally high hog prices at home, two brokers downgraded the stock of Tyson and Smithfield Foods Thursday. SunTrust Robinson Humphrey cut its rating of the Smithfield, Va.-based Smithfield to "neutral" from "buy," while Prudential downgraded Springdale, Ark.-based Tyson to "neutral weight" from "overweight." Shares of Smithfield fell 59 cents, or 2.4 percent, to $24.10 and Tyson fell 2 cents, to $15.08.

5m Editor