Conagra Brands price target lowered to $18 from $19 at TD Cowen

TD Cowen analyst Robert Moskow lowered the firm’s price target on Conagra Brands (CAG) to $18 from $19 and keeps a Hold rating on the shares. The firm said they reported a soft 2Q with a slight org sales miss and EPS in-line. Management promised a return to organic growth in 2H26, helped by easier comps to last year’s supply chain disruption and 100 bps to 3Q from retail inventory timing. However, wCowen thinks 0% growth is probably the “true” run-rate given the portfolio’s lack of pricing power and high exposure to low-income consumers.