RBC Capital lowered the firm’s price target on Conagra Brands (CAG) to $20 from $22 and keeps a Sector Perform rating on the shares. Against subdued expectations and underperformance into the print, Conagra delivered a softer quarter on the topline but with better than feared profitability, the analyst tells investors in a research note. The quarter was noisy and impacted by several timing and one-time transitory factors, though consensus estimates likely come down within Conagra ranges, the firm added.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAG:
- Conagra Brands price target lowered to $20 from $22 at RBC Capital
- Conagra Brands price target lowered to $17 from $18 at BofA
- Conagra Brands Earnings Call Balances Growth and Strain
- Midday Fly By: Nike reports Q2 beat, TikTok to sell U.S. unit
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!