JPMorgan Downgrades Conagra Brands, Prefers To Be On Sidelines

JPMorgan analyst Ken Goldman downgraded Conagra Brands Inc CAG to Neutral from Overweight with a price target of $38 (suggesting a 10.6% upside), down from $41.
Goldman sees "still plenty to like" about Conagra's story and says the stock's valuation remains "appealing."
However, the analyst prefers to be on the sidelines until he can see greater upside to earnings.
Also Read: Conagra Brands Q1 Earnings Top Estimates; Reaffirms FY22 EPS Outlook
Price Action: CAG shares are trading lower by 0.44% at $34.08 on the last check Friday.