BofA analyst Peter Galbo lowered the firm’s price target on Conagra Brands (CAG) to $29 from $31 and keeps a Neutral rating on the shares. Despite a Q2 beat, the firm is lowering its FY25-FY27 EPS estimates to $2.45, $2.48 and $2.54, respectively, driven by a reduction in gross margins from inflation and promotions as well as a modest impact from adverse foreign exchange, the analyst tells investors.
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