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Fly News Breaks for December 21, 2018
CAG
Dec 21, 2018 | 07:06 EDT
Credit Suisse analyst Robert Moskow maintained a Neutral rating on ConAgra Brands but lowered his price target to $26.50 from $35 following the company's quarterly report. In a research note to investors, Moskow lowered his FY19 and FY20 EPS estimates to $2.07 and $2.16, respectively, from $2.11 and $2.37. He noted that the stock fell 17% on Thursday after management slashed expectations for the $10.9B Pinnacle acquisition for the next 12 months due to a litany of product innovation missteps and unprofitable trade promotions by the prior management team.