ConAgra Analysts Cut Their Forecasts After Q1 Results
Portfolio Pulse from Lisa Levin
ConAgra Brands Inc reported Q1 sales of $2.90 billion, flat Y/Y, versus the consensus of $2.95 billion. Adjusted EPS increased 15.8% to $0.66, beating the consensus of $0.60. Following the earnings announcement, analysts from Stifel, RBC Capital, and Jefferies lowered their price targets on ConAgra.
October 06, 2023 | 6:16 pm
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ConAgra's Q1 results led to a reduction in price targets by several analysts. Despite beating EPS estimates, the company's flat sales growth may have contributed to the lowered expectations.
ConAgra's Q1 results were mixed with a beat on EPS but flat sales growth. This has led analysts to lower their price targets, indicating a potential negative impact on the stock price in the short term.
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