JPMorgan analyst Ken Goldman attributes the post-earnings rally yesterday in shares of Conagra Brands to an improvement in legacy Conagra fundamentals, deal synergies coming in better than expected, "higher-than-usual" short interest, and, most importantly, signs of potential stabilization with the acquired PF business. The results were a "convincing rebuttal to those who feared PF necessarily would worsen before it improved," Goldman tells investors in a post-earnings research note titled "PFffff Goes the Short Case (At Least for Now) as CAG Posts Its Biggest One-Day Gain Since 1989." He keeps an Overweight rating on Conagra Brands.