Goldman Sachs Upgrades ConAgra To Buy

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According to Goldman Sachs, ConAgra
CAG
shares are upgraded to Buy. Goldman Sachs said that CAG has modest leverage and strong FCF and we believe its recent Ralcorp offer shows a new willingness to aggressively utilize its available capital. “We are raising our 12-month P/E derived price target to $31, from $28, as we increase our target P/E to 15x, from 13.5x.” ConAgra closed on Friday at $25.20.
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Posted In: Analyst ColorUpgradesAnalyst RatingsConAgraConsumer StaplesGoldman SachsPackaged Foods & Meats
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