ConAgra (CAG) PT Raised to $42 at Jefferies
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Jefferies analyst Rob Dickerson raised the price target on ConAgra (NYSE: CAG) to $42.00 (from $40.00) while maintaining a Buy rating.
The analyst commented, "Slight margin expansion amid an increasingly inflationary environment is needed for CAG to achieve the low end of its 18-19% FY’22 operating margin target next fiscal year. We believe savings/synergy initiatives, the roll-off of COVID-driven costs, and price/mix offsets should assist, all while near-term divestment potential remains given the tax asset’s FYE expiration. Our cumulative FY’22-’23 EPS outlook remains largely unchanged."
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