Conagra Brands price target lowered to $29 from $36 at Stifel

Stifel lowered the firm’s price target on Conagra Brands to $29 from $36 and keeps a Hold rating on the shares. After the company reported “strong profit performance” in fiscal Q1 but weaker than expected sales growth, including an organic sales decline, the firm lowered its estimates and says it has low conviction in volume growth inflecting in the second half.