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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAG:
- Conagra Brands Shows Resilience Amidst Economic Challenges
- Micron sinks on guidance, TripAdvisor to buy Liberty TripAdvisor: Morning Buzz
- Morning Movers: Lamb Weston tanks after second quarter results and CEO change
- CAG Earnings: Conagra Disappoints Wall Street after Slashes FY25 Outlook
- Conagra Brands sees FY25 adjusted operating margin of approximately 14.8%