UPDATE: Morgan Stanley Reiterates On ConAgra Foods Inc Following Solid Q1 Results

In a report published Friday, Morgan Stanley analyst Matthew Grainger reiterated an Equal-Weight rating on

, and raised the price target from $30.00 to $32.00. In the report, Morgan Stanley noted, “Q1 results exceeded muted expectations and offered some encouraging evidence of recovery. However, with the industry environment still quite difficult and uncertainty around the pending management change, we remain cautious about current mid-term EPS growth targets. Remain EW.” ConAgra Foods Inc closed on Thursday at $33.48.