UPDATE: Jefferies Upgrades ConAgra (CAG) to Buy

June 22, 2020 5:23 AM EDT
Get Alerts CAG Hot Sheet
Price: $33.12 -0.78%

Rating Summary:
    8 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 13 | New: 31
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(Updated - June 22, 2020 6:09 AM EDT)

(updating comment)

Jefferies analyst Rob Dickerson upgraded ConAgra (NYSE: CAG) from Hold to Buy with a price target of $41.00 (from $31.00).

The analyst comments "A reduction in CAG's brand portfolio risk via higher at-home food consumption increases FY’22 target achievability, in our view, given further top line tailwinds. Consensus FY’22 EPS of $2.50 still sits ~6% below the bottom of management’s guidance range of $2.66-2.76. We’re currently at $2.70, or ~8% above consensus, and think the stock’s 15% relative P/E valuation discount to US food peers is unjustified."

For an analyst ratings summary and ratings history on ConAgra click here. For more ratings news on ConAgra click here.

Shares of ConAgra closed at $33.55 yesterday.

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