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Fly News Breaks for October 17, 2019
CAG
Oct 17, 2019 | 08:45 EDT
RBC Capital analyst Nik Modi resumed coverage of Conagra Brands with a Sector Perform rating and $30 price target as part of his broader research note initiating the Packaged Foods sector. The analyst notes that while the management has done well to quickly propose solutions to address the issues around its Pinnacle brands' misperceptions, he believes that the "transformative" deals in the consumer packaged goods space require some "caution". Modi adds that he awaits more signs of the efficacy of Conagra's new innovation.
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