Conagra Brands price target lowered to $28 from $30 at Jefferies

Jefferies lowered the firm’s price target on Conagra Brands to $28 from $30 and keeps a Hold rating on the shares. While Conagra topped Q1 operating profit and EPS forecasts, it missed on the top-line as organic sales turned negative, the analyst noted. While management reiterated 1% organic growth guidance for the fiscal year despite the miss, the firm questions whether consumer behavior will change that much as to enable about 3% organic growth called for in the second half, the analyst added.