Conagra Brands price target lowered to $29 from $30 at RBC Capital

RBC Capital lowered the firm’s price target on Conagra Brands to $29 from $30 and keeps a Sector Perform rating on the shares. The company delivered a slightly softer quarter and provided guidance that was below expectations as the management ramps up brand investments to continue an improving volume picture, the analyst tells investors in a research note. RBC adds that Conagra’s initial FY25 outlook is “reasonable” as food softness lingers and as consumers are still adjusting to a period of high prices.