ConAgra Brands' Volumes In Focus: Analyst Cautions Investments May Be Throttled Back
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Matthew E. Smith reiterated a Hold rating on ConAgra Brands, Inc. (NYSE:CAG), lowering the price target to $29 from $36. ConAgra reported 1Q earnings with strong profit but weaker-than-expected sales growth. The company's Q1 FY24 sales were $2.90 billion, missing the consensus of $2.95 billion. Smith remains cautious due to the consumer environment and industry-wide volume trends. The analyst lowered organic sales estimate to +0.5% from the previously estimated +1%, with volume down 2%.

October 06, 2023 | 7:54 pm
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NEGATIVE IMPACT
ConAgra Brands' stock may be impacted by the lowered price target and weaker-than-expected sales growth.
The lowered price target and weaker-than-expected sales growth reported by ConAgra Brands may negatively impact investor sentiment, potentially leading to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100