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Fly News Breaks for June 30, 2017
CAG
Jun 30, 2017 | 07:16 EDT
UBS analyst Steven Strycula believes the valuation for Conagra Brands remains elevated given its current fundamentals. The analyst cut his estimates to reflect lower sales and more muted upside for margins. Strycula said the breadth of the company's portfolio makes it challenging to move the needle, but he expects its robust innovation pipeline to boost sales beginning next year. Strycula reiterated his Sell rating and lowered his price target to $33 from $35 on Conagra Brands shares.
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