TD Cowen analyst Robert Moskow has maintained their neutral stance on CAG stock, giving a Hold rating yesterday.
Geoff Meacham has given his Hold rating due to a combination of factors that influence Conagra Brands’s current market position and future prospects. The adjustment of the price target from $29.00 to $28.00 suggests a cautious perspective on the company’s growth potential, reflecting a modest expectation for Conagra’s performance in the near term. This restrained forecast is likely informed by market dynamics and specific operational challenges faced by the company, which may limit its ability to significantly outperform market expectations.
Moreover, the Hold rating indicates that while there may not be significant downside risks to Conagra Brands’s stock, the analyst does not foresee substantial upside in the near future either. This stance implies that the stock is fairly valued at its current level, considering the company’s earnings prospects, competitive landscape, and financial health. Investors are advised to maintain their position without increasing or decreasing their stake, as the outlook does not strongly favor either bullish or bearish sentiments at this time.
In another report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $30.00 price target.
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Conagra Brands (CAG) Company Description:
Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Pinnacle Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States. The Refrigerated and Frozen segment comprises branded, temperature controlled food products sold in various retail channels in the United States. The International segment consists branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. The Foodservice segment focuses in the branded and customized food products, including meals, entrees, sauces, and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The Pinnacle Foods segment involves in the commercially branded and private label food and ingredients, in various temperature states, sold in various retail and foodservice channels in the United States and Canada. The company was founded by Alva Kinney and Frank Little in 1919 and is headquartered in Chicago, IL.
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