RBC Capital Remains Bullish as ConAgra Brands (CAG) Distributes Lamb Weston Stock
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
RBC Capital maintained an Outperform rating on ConAgra Brands (NYSE: CAG), and cut the price target to $42.00 (from $54.00), following the distribution of Lamb Weston stock to shareholders.
Analyst David Palmer commented, "We are adjusting our price target to $42 from $54 to reflect the distribution of Lamb Weston stock to shareholders on 11/10. We continue to believe the company's new pure-play focus and M&A options warrant a higher valuation relative to peers versus its current and historical discount. We also envision upside to consensus and company gross margin expectations through improved revenue management and promotion effectiveness. Maintain Outperform rating."
Shares of ConAgra closed at $34.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- UPDATE: SunTrust Robinson Humphrey Downgrades Health Care REIT (HCN) to Hold
- UPDATE: SunTrust Robinson Humphrey Downgrades Pennsylvania Real Estate Investment Trust (PEI) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!