ConAgra Brands In 4Q23: An Analyst's Outlook On Expected Growth Amid Supply Chain Disruptions
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Nik Modi reiterated a Sector Perform rating on ConAgra Brands, Inc. (NYSE:CAG), with a price target of $38. The company is expected to release its fiscal 2023 fourth-quarter results on July 13, 2023. The analyst expects modest growth driven by pricing and impacts from supply chain disruptions. The analyst forecasts organic sales +2.8% and EPS of $0.58 for 4Q23. ConAgra is expected to face disruptions due to the temporary operation disruption of its partner Americold. The analyst estimates revenue growth of 2.7% year over year in the fourth quarter to $2.987 billion.
July 12, 2023 | 3:24 pm
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ConAgra Brands, Inc. is expected to face modest growth in 4Q23 due to pricing and supply chain disruptions. The company's partner Americold's operation disruption is expected to impact ConAgra's operations.
The analyst from RBC Capital Markets expects ConAgra Brands to face modest growth in 4Q23 due to pricing and supply chain disruptions. The company's partner Americold's operation disruption is expected to impact ConAgra's operations, which could negatively affect the company's stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100