Jefferies lowered the firm’s price target on Conagra Brands to $35 from $38 and keeps a Hold rating on the shares after the company missed Q4 sales and operating profit estimates and guided to 1% organic growth and a year-over-year EPS decline in FY24. Near-term volume risk and reinvestment needs keep the firm sidelined on the shares.
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Read More on CAG:
- Conagra Brands price target lowered to $36 from $43 at Stifel
- Conagra Brands price target lowered to $38 from $40 at BofA
- CAG Slips Even after Strong Q4 Earnings as Outlook Disappoints
- Conagra Brands reports Q4 adjusted gross margin up 216 bps to 27.0%
- Conagra Brands expects cost of goods sold inflation to continue into FY24
