Goldman Sachs Provides Color on ConAgra, Neutral

Goldman Sachs provided color on ConAgra CAG ahead of the company's quarterly earnings report, which is due to be published on Thursday, June 23. In a research report published today, Goldman states, "ConAgra (CAG, Neutral) reports 4QFY11 results and issues its FY12 outlook on Thursday, June 24. We expect EPS of $0.48 (in line with the Street) on above-consensus sales/below consensus margins. We expect guidance of 6%-8% EPS growth – bracketing consensus and in line with CAG's long-term target. Investors we have spoken with of late have expressed concern about CAG's fundamental outlook and in-line results could be met with relief." At the moment, Goldman has a Neutral rating and a price target of $28 placed on the company's stock. On Friday, ConAgra finished the week at $24.65.