ConAgra Foods, Inc. (CAG) Maintains Market Perform Rating And $26 Price Target

Analysts at Bernstein Research have released an update on ConAgra Foods, Inc. (NYSE: CAG). The company will announce its third-quarter results on March 25.

Analysts believe that ConAgra’s sales in the third-quarter will be light due to slow organic sales growth in the Consumer Segment and continued lower pass-through pricing in the Commercial Segment. Analysts expect the company to report a gross margin of 25.3%, which is ahead of the consensus by 90 basis points. Analysts’ estimate for EBIT in the quarter is $327 million, which is in-line with consensus estimate.

Analysts at Bernstein Research have maintained their Market Perform rating and $26 price target for ConAgra Foods, Inc.