Market Overview

UPDATE: Citigroup Raises PT to $31 on ConAgra Foods on Earnings Outlook

Related CAG
4 Kraft Divisions Ripe For Spinoff (And Some Possible Suitors)
Markets Marginally Higher On Light Volume And Encouraging Geopolitical Developments
ConAgra Swings to 4Q Loss on Private Label Weakness (Fox Business)

Citigroup reiterated its Buy rating on ConAgra Foods (NYSE: CAG) and raised its price target from $30 to $31.

Citigroup commented, "We are reiterating our Buy rating on ConAgra shares and see good potential for F2013 earnings growth, driven by solid new product innovation, increased consumer marketing spending, and a moderating input cost inflation environment. … We believe that there is the potential for further upside to management's new EPS guidance, although the likely increases in commodity prices expected in early CY2013 could represent a fly in the ointment."

ConAgra Foods closed at $27.24 on Thursday.

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CAG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters