Jefferies Starts ConAgra (CAG) at Hold

Jefferies initiates coverage on ConAgra (NYSE: CAG) with a Hold. PT $25.00.

The firm comments, "After the failure to strike a deal for Ralcorp, we prefer to stay on the sidelines until we get a better idea about management’s next steps. That aside, we consider CAG's structurally disadvantaged categories and relative lack of int’l growth opportunities an obstacle to outperformance, even though the long-term strategy appears to be designed to address these issues."

For more ratings news on ConAgra click here and for the rating history of ConAgra click here.

Shares of ConAgra closed at $23.03 yesterday.

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