UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on ConAgra Foods

In a report published Monday, the Goldman Sachs Group reiterated its Neutral rating on ConAgra Foods

, but lowered its price target from $29.00 to $27.00. Goldman Sachs noted, “Given recent moves in the grain complex, we are lowering CAG FY13/FY14 estimates to $1.97/$2.06 from $2.02/$2.17 and introducing a FY15 estimate of $2.17. Given the lower estimates, we lower our 12-month, P/E- and EV/EBITDA-based price target to $27 from prior $29.” ConAgra Foods closed on Friday at $24.83.