Evercore ISI Group Maintains Outperform Rating for Conagra Brands: Here's What You Need To Know

Evercore ISI Group has decided to maintain its Outperform rating of Conagra Brands CAG and raise its price target from $40.00 to $42.00.

Shares of Conagra Brands are trading up 0.48% over the last 24 hours, at $38.84 per share.

A move to $42.00 would account for a 8.15% increase from the current share price.

About Conagra Brands

Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of revenue and profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Other popular brands include Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, 9% of fiscal 2022 sales were to the food-service channel, down from 11% in fiscal 2019 due to the pandemic.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.