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%.