Goldman Sachs Upgrades ConAgra To Buy

According to Goldman Sachs, ConAgra CAG shares are upgraded to Buy. Goldman Sachs said that CAG has modest leverage and strong FCF and we believe its recent Ralcorp offer shows a new willingness to aggressively utilize its available capital. “We are raising our 12-month P/E derived price target to $31, from $28, as we increase our target P/E to 15x, from 13.5x.” ConAgra closed on Friday at $25.20.