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Fly News Breaks for December 20, 2019
CAG
Dec 20, 2019 | 06:48 EDT
UBS analyst Steven Strycula raised his price target on Conagra Brands to $38 and kept his Buy rating after its Q2 earnings beat and a higher than expected organic sales growth of 1.6%, tracking "above retail scanner data" of 0.5%. The analyst believes that organic sales growth will accelerate further in Q3 and Q4, with an added positive view of the company's portfolio complexity reduction given its sale of Lender's Bagels and peanut butter plant assets.
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