Analysts Trim Price Target On Conagra Brands Post Q4 Results

  • Credit Suisse analyst Robert Moskow reiterated a Neutral rating on Conagra Brands Inc CAG and lowered the price target to $35 from $36 (an upside of 4%).
  • The analyst thinks Conagra's Q4 EPS and guidance for operating income growth (6-9%) were in-line with consensus, but the quality fell short of expectations, with volume declines accelerating to 6%.
  • RelatedConagra Brands Reports Mixed Q4 Earnings
  • Conagra's stock had moved higher with the rest of the food group because price increases were flowing through at retail and showed signs of catching up to inflation.
  • Moskow added that the price-cost relationship would benefit the back half.
  • The analyst said that companies with higher quality brands in their portfolios are likely to weather the economic pressures better than others.
  • Morgan Stanley analyst Pamela Kaufman maintained an Equal-weight rating and lowered the price target to $34 from $36 (1% upside).
  • Deutsche Bank analyst Steve Powers reiterated a Hold rating and lowered the price target to $32 (5% downside).
  • Price Action: CAG shares are trading higher by 1.36% at $33.60 on the last check Friday.
  • Photo Via Wikimedia
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