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In a report published Friday, Deutsche Bank analyst Eric Katzman reiterated a Hold rating and $34.00 price target on
ConAgra Foods, Inc.CAG.
In the report, Deutsche Bank noted, "Although we acknowledge a supportive 3% div.yield, low valuation (15x C2015 P/E) and improving balance sheet (3.8x net debt/EBITDA), we believe fundamental challenges incl. private label, keep us cautious over EPS. We see new CEO Connolly and the Board as not seeking a break-up and thus a LT turnaround is more likely."
ConAgra Foods closed on Thursday at $34.75.
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