Wells Fargo analyst Chris Carey raised the firm’s price target on Conagra Brands (CAG) to $20 from $19 and keeps an Equal Weight rating on the shares. The firm’s Q1 beat included timing and it sees a small step back in Q2. Debates will remain, Wells believes. That in mind, this was nevertheless a sturdier foundation to start the year at historically low valuation, which the firm views as a starting point.
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