Jefferies analyst Akshay Jagdale believes the recent underperformance of Tyson Foods (TSN) shares provides a "great" buying opportunity. The stock has underperformed the S&P 500 Index significantly since September owing to the Q4 miss and rotation out of staples.

Jagdale tells investors in a research note. If not for several one-time issues, primarily in Chicken, Q4 earnings would have been in-line with consensus, the analyst contends. He believes Tyson's value-added long-term growth strategy remains intact. Jagdale lowered his price target for the shares to $75 from $85 and keeps a Buy rating on the Tysons.