Goldman Sachs Downgrades ConAgra (CAG) to Neutral
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Price: $15.62 +1.49%
Rating Summary:
3 Buy, 17 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 17 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs downgraded ConAgra (NYSE: CAG) form Buy to Neutral with a price target of $27 (down form $31).
The firm lowered their multiple assumption "to reflect a lower probability of sizeable near-term accretion through capital allocation" via an acquisition of Ralcorp's (NYSE: RAH). This follows Ralcorp's multiple rejections of overtures.
Goldman sees greater upside in J. M. Smucker Company (NYSE: SJM), which was upgraded to the firm's top rating today.
For more ratings news on ConAgra click here and for the rating history of ConAgra click here.
Shares of ConAgra closed at $24.06 yesterday.
The firm lowered their multiple assumption "to reflect a lower probability of sizeable near-term accretion through capital allocation" via an acquisition of Ralcorp's (NYSE: RAH). This follows Ralcorp's multiple rejections of overtures.
Goldman sees greater upside in J. M. Smucker Company (NYSE: SJM), which was upgraded to the firm's top rating today.
For more ratings news on ConAgra click here and for the rating history of ConAgra click here.
Shares of ConAgra closed at $24.06 yesterday.
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