Stifel lowered the firm’s price target on Conagra Brands (CAG) to $19 from $21 and keeps a Hold rating on the shares. While valuation remains compelling in relation to history for food stocks, the firm remains cautious and advises investors to remain selective in their food exposure, citing the uncertainty in volume improvement, the risk of accelerated private label share gains, and potential for further increased promotional activity, the analyst tells investors in a note on the group.
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