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McDonald’s chicken sandwich could boost Tyson Foods, Pilgrim’s Pride: Analyst

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McDonald’s Crispy Chicken Sandwich and Deluxe Crispy Chicken Sandwich

Source: McDonald’s

McDonald’s new line of chicken sandwiches could lift all chicken suppliers, particularly Tyson Foods and Pilgrim’s Pride, said a Bank of America Securities report released Thursday.

The fast-food giant launched its Crispy Chicken Sandwich nationwide on Wednesday, spurred on by increased competition with Chick-fil-A and the success of Popeyes’ version.

McDonald’s is somewhat tight-lipped about the identity of its suppliers, but analyst Peter Galbo predicts that Tyson is one of McDonald’s biggest chicken suppliers, thanks to its 2018 acquisition of Keystone Foods. Moreover, roughly a fifth of Tyson’s…



Source cnbc.com

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