UPDATE: Jefferies Upgrades ConAgra (CAG) to Buy

(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.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'