UBS analyst Steven Strycula lowered his price target for Conagra Brands (CAG) to $32 from $35 following the company's "disappointing" Q4 results. Given the magnitude of the Q4 sales miss, investors do not find the company's fiscal 2020 guidance as conservative, Strycula tells investors in a post-earnings research note. However, with the stock now at a 20% price-to-earnings discount to US Foods (USFD), Conagra shares have priced in execution risk and potential downside to earnings guidance, contends the analyst. As such, Strycula keeps a Buy rating on Conagra Brands.