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Fly News Breaks for December 14, 2017
PF, CAG
Dec 14, 2017 | 08:17 EDT
Bernstein analyst Alexia Howard upgraded Conagra Brands (CAG) to Market Perform from Underperform based on frozen innovation and possibility of deal making. The analyst notes that investors have speculated about a major deal by Conagra, with Pinnacle Foods (PF) considered the most likely target, and while a deal of any magnitude has not come yet, he believes such it is more likely next year especially after uncertainties related to the tax reform are resolved. Howard also raised his price target on Conagra Brands shares to $38 from $32.
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