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CAG

Conagra Brands

$48.33

0.83 (1.75%)

15:45
10/18/16
10/18
15:45
10/18/16
15:45

ConAgra sees accretive acquisitions accelerating growth

In slides for its Investor Day meeting, ConAgra Brands stated that it will follow a "disciplined approach" to evaluating M&A targets, weighing both strategic fit and financial fit, and will follow a "similar set of criteria" for divestitures. In terms of the "cadence" of its transformation, ConAgra said it will "reset" the top-line in FY16/17, "improve" the top-line in FY18 and "accelerate growth" in FY19/20, while expanding margins in all of the time periods. The company also stated that its $300M efficiency plan is "on track" and noted that it reduced approximately 1,500 positions in FY16 after having reduced approximately 450 positions in FY15.

  • 18

    Oct

CAG Conagra Brands
$48.33

0.83 (1.75%)

10/12/16
MSCO
10/12/16
NO CHANGE
Target $53
MSCO
Overweight
ConAgra risk/reward attractive ahead of Investor Day, says Morgan Stanley
Morgan Stanley analyst Matthew Grainger said ConAgra risk/reward is still attractive ahead of the upcoming Investor Days despite recent outperformance. The analyst expects management to set expectations for further cost savings that support a further re-rating. Grainger expects pro forma earnings will likely imply modest dilution but sees the risk of a more substantial negative revision as unlikely. He sees multiple paths to value creation including its ability to lever up for M&A, selective divestitures, and potential for renewed focus on Lamb Weston. The analyst rates ConAgra an Overweight with a $53 price target.
10/14/16
RBCM
10/14/16
UPGRADE
RBCM
Outperform
ConAgra upgraded to Outperform from Sector Perform at RBC Capital
10/14/16
RBCM
10/14/16
UPGRADE
RBCM
Outperform
ConAgra upgraded based on valuation at RBC Capital
As noted earlier, RBC Capital upgraded ConAgra to Outperform from Sector Perform. Analyst David Palmer upgraded the stock based on valuation. Target to $54 from $50.
10/14/16
10/14/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConAgra (CAG) upgraded to Outperform from Sector Perform at RBC Capital with analyst David Palmer citing valuation. 2. Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray after the firm's semi-annual proprietary "Taking Stock With Teens" survey. 3. Domino's Pizza (DPZ) upgraded to Buy from Underperform at BofA/Merrill with analyst Gregory Francfort saying he believes Domino's has further growth ahead and will take share in the fragmented $34B U.S. pizza category. 4. TSMC (TSM) upgraded to Sector Weight from Underweight at Pacific Crest with analyst Michael McConnell citing a more favorable margin outlook and share gains at the 10 nm node. 5. Level 3 (LVLT) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying expectations have been lowered along with the share price. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

INFO

IHS Markit

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0.39 (0.82%)

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GSK

GlaxoSmithKline

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GSK

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$37.76

0.2646 (0.71%)

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SPY

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$278.99

1.07 (0.39%)

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PBR

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$11.67

0.1978 (1.72%)

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MRK

Merck

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3.72 (6.34%)

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TTMI

TTM Technologies

$17.39

0.59 (3.51%)

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LPI

Laredo Petroleum

$11.09

0.015 (0.14%)

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EVRI

Everi Holdings

$7.85

-0.09 (-1.13%)

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Scientific Games

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GME

GameStop

$17.79

0.03 (0.17%)

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XOG

Extraction Oil & Gas

$14.16

-0.13 (-0.91%)

11:28
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Conference/Events
Extraction Oil & Gas management to meet with SunTrust »

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C

Citi

$77.46

0.615 (0.80%)

11:22
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  • 16

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TTMI

TTM Technologies

$17.39

0.59 (3.51%)

11:21
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PAAS

Pan American Silver

$16.66

0.48 (2.97%)

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C

Citi

$77.47

0.625 (0.81%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

11:16
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11:15
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