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Fly News Breaks for September 28, 2018
CAG
Sep 28, 2018 | 07:57 EDT
Citi analyst David Driscoll views yesterday's post-earnings pullback in shares of Conagra Brands creates an attractive entry point. The weakness in the shares is overdone as the company's full year guidance is unchanged and calls for flat to modestly improved full year gross and operating margins, Driscoll tells investors in a research note. As such, he notes, Conagra's margins are expected to improve in the back half of the year. He lowered his price target for the shares to $40 from $42 and keeps a Buy rating on the name.
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