Stifel analyst Matthew Smith lowered the firm’s price target on Conagra Brands (CAG) to $21 from $26 and keeps a Hold rating on the shares. Conagra’s EPS miss versus estimates was driven by a lower-than-expected sales and margin performance, while gross margin contracted as lower sales, inflation, and negative operating leverage more than offset higher productivity savings, the analyst tells investors in a research note.
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Read More on CAG:
- Conagra Brands price target lowered to $20 from $22 at Morgan Stanley
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