Conagra Brands upgraded to Hold from Sell at Deutsche Bank

Deutsche Bank analyst Steve Powers upgraded Conagra Brands to Hold from Sell with an unchanged price target of $35. The analyst remains concerned about trade down risk and intensifying competition, but says that at current valuations, these are now better reflected in the shares. While the firm sees some potential for Conagra’s fiscal Q3 results to come in light of consensus, it sees few risks of major disappointment.