Deutsche Bank analyst Steve Powers resumed coverage of Conagra Brands with a Hold rating and $29 price target. The analyst notes that over a year ago, the stock was considered as an "interesting turnaround story" due to its portfolio pivot to frozen foods and snacking, but since that time, concerns over its revenue growth and views that the management's guidance is "overly ambitious" have tempered investor enthusiasm. Powers adds that Conagra is capable of growing revenues by 0%-2%, but the sustained investment required for that growth would pressure its margins.