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CAG

Conagra Brands

$48.28

0.78 (1.64%)

15:41
10/18/16
10/18
15:41
10/18/16
15:41

ConAgra sees revenue growth CAGR of 1%-2% from FY17-FY20

In slides for its Investor Day meeting, ConAgra Brands shared a "financial algorithm" for FY17-FY20 that includes revenue growth CAGR of 1%-2%, adjusted operating profit CAGR of 4%-5%, adjusted EPS growth CAGR of 10% and annual gross margin expansion of about 60 bps. The company sees FY17 share repurchases of $1.0B and "continued thereafter" and targets a dividend payout ratio of about 45%-50%.

  • 18

    Oct

CAG Conagra Brands
$48.28

0.78 (1.64%)

10/12/16
MSCO
10/12/16
NO CHANGE
Target $53
MSCO
Overweight
ConAgra risk/reward attractive ahead of Investor Day, says Morgan Stanley
Morgan Stanley analyst Matthew Grainger said ConAgra risk/reward is still attractive ahead of the upcoming Investor Days despite recent outperformance. The analyst expects management to set expectations for further cost savings that support a further re-rating. Grainger expects pro forma earnings will likely imply modest dilution but sees the risk of a more substantial negative revision as unlikely. He sees multiple paths to value creation including its ability to lever up for M&A, selective divestitures, and potential for renewed focus on Lamb Weston. The analyst rates ConAgra an Overweight with a $53 price target.
10/14/16
RBCM
10/14/16
UPGRADE
RBCM
Outperform
ConAgra upgraded to Outperform from Sector Perform at RBC Capital
10/14/16
RBCM
10/14/16
UPGRADE
RBCM
Outperform
ConAgra upgraded based on valuation at RBC Capital
As noted earlier, RBC Capital upgraded ConAgra to Outperform from Sector Perform. Analyst David Palmer upgraded the stock based on valuation. Target to $54 from $50.
10/14/16
10/14/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConAgra (CAG) upgraded to Outperform from Sector Perform at RBC Capital with analyst David Palmer citing valuation. 2. Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray after the firm's semi-annual proprietary "Taking Stock With Teens" survey. 3. Domino's Pizza (DPZ) upgraded to Buy from Underperform at BofA/Merrill with analyst Gregory Francfort saying he believes Domino's has further growth ahead and will take share in the fragmented $34B U.S. pizza category. 4. TSMC (TSM) upgraded to Sector Weight from Underweight at Pacific Crest with analyst Michael McConnell citing a more favorable margin outlook and share gains at the 10 nm node. 5. Level 3 (LVLT) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying expectations have been lowered along with the share price. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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YGE

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EPC

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ORC

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AEP

American Electric

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ORC

Orchid Island Capital

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HBHC

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TSLA

Tesla

$314.07

5.44 (1.76%)

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LMT

Lockheed Martin

$269.45

-1.69 (-0.62%)

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BA

Boeing

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WBA

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GE

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SIX

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LMT

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SBBP

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CYH

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MRUS

Merus

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AEZS

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ANY

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