ConAgra's (CAG) Peers Advance After JANA Reveals Stake
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Price: $15.52 -0.13%
Rating Summary:
3 Buy, 17 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
3 Buy, 17 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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ConAgra Foods (NYSE: CAG) peers were strong Friday, a day after activist JANA disclosed a 7.2% stake in ConAgra.
In a research note, Barclay's analyst Andrew Laxar said JANA's stake is positive for ConAgra and likely has positive implications for beneficiaries of potential alternative transactions. Laxar mentioned Treehouse Foods (NYSE: THS), Pinnacle Foods (NYSE: PF) and Post Holdings (NYSE: POST).
ConAgra Foods' price target was raised to $46 at Barclay's.
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