BofA analyst Peter Galbo lowered the firm’s price target on Conagra Brands to $38 from $40 and keeps a Neutral rating on the shares after the company reported a Q4 beat and introduced a FY24 outlook that was “largely as expected.” Following the report and guidance, the firm lowered its FY24 and FY25 adjusted EPS estimates to $2.71 and $2.78 from $2.80 and $2.88, respectively.
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Read More on CAG:
- 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
- CONAGRA BRANDS REPORTS FOURTH QUARTER RESULTS
- Conagra Brands announces 6% increase to annual dividend
