ConAgra (CAG) PT Raised to $42 at Jefferies

April 9, 2021 8:05 AM EDT
Get Alerts CAG Hot Sheet
Price: $34.25 +0.35%

Rating Summary:
    8 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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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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