Conagra Brands price target lowered to $26 from $29 at JPMorgan

JPMorgan lowered the firm’s price target on Conagra Brands (CAG) to $26 from $29 and keeps a Neutral rating on the shares. The firm says that while the company’s categories are starting to look more appealing on a relative basis, with a portfolio that leans toward veggies and has limited exposure to preservatives and artificial ingredients, Conagra’s guidance has not been as reliable as it would like. In addition, the company’s portfolio “remains more complicated than what some might consider ideal,” the analyst tells investors in a research note.