ConAgra Analysts Cut Their Forecasts After Q1 Results

ConAgra Brands Inc CAG reported upbeat earnings for its first quarter on Thursday.

The company posted quarterly sales of $2.90 billion, flat Y/Y, versus the consensus of $2.95 billion. Adjusted EPS increased 15.8% to $0.66, beating the consensus of $0.60.

ConAgra shares gained 1.6% to trade at $26.41 on Friday.

These analysts made changes to their price targets on ConAgra following earnings announcement.

• Stifel cut the price target on ConAgra from $36 to $29. Stifel analyst Matthew Smith maintained a Hold rating.
• RBC Capital lowered the price target on ConAgra from $36 to $32. RBC Capital analyst Nik Modi maintained a Sector Perform rating.
• Jefferies slashed the price target on ConAgra from $30 to $28. Jefferies analyst Rob Dickerson maintained a Hold rating.

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