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CAG

Conagra Brands

$35.34

-1.07 (-2.94%)

07:33
03/22/18
03/22
07:33
03/22/18
07:33

Conagra Brands CEO: 'Our transformation plan remains squarely on track'

Sean Connolly, president and CEO of Conagra Brands, commented, "I continue to be pleased with the progress we are making on improving our fundamentals, particularly on the top line. Our efforts are paying off, and our businesses are gaining momentum. Our frozen portfolio, where we put most of our innovation focus this year, continues to show strong growth and share gains. Consumption in our Grocery & Snacks segment also continues to strengthen, and non-promoted consumption exceeded expectations in the quarter." He added, "Overall, our transformation plan remains squarely on track. We continue to invest to drive brand saliency, enhanced distribution, and consumer trial in the face of higher inflation on input and transportation costs, which is pressuring near-term margins. Strong underlying trends are enabling us to increase our fiscal 2018 adjusted EPS guidance above the range provided at the

  • 11

    Apr

CAG Conagra Brands
$35.34

-1.07 (-2.94%)

01/29/18
SPHN
01/29/18
NO CHANGE
Target $65
SPHN
Overweight
Conagra,Tyson could be Pinnacle buyers if Third Point pushes sale, says Stephens
Stephens analyst Farha Aslam noted that reports indicated that Dan Loeb's Third Point has taken a position in Pinnacle Foods (PF) and she believes an activist campaign would likely focus on a sale rather than management or operational changes. The analyst, who estimates Pinnacle could be valued at $67-$70 in an acquisition, views Conagra Brands (CAG) and Tyson Foods (TSN) as potential acquirers, noting that Pinnacle has been considered an acquisition target since Hillshire was bought by Tyson in 2014. Aslam keeps an Overweight rating and $65 price target on Pinnacle shares.
03/06/18
DBAB
03/06/18
NO CHANGE
DBAB
FTC action on Smucker modest negative for battery deal, says Deutsche Bank
Deutsche Bank analyst Faiza Alwy views the Federal Trade Commission's administrative complaint against Smucker (SJM) regarding the proposed $285M acquisition of Conagra's (CAG) Wesson cooking oil brand as a modest negative for Energizer's (ENR) ability to secure regulatory approval to acquire Spectrum Brands' (SPB) batteries division. The analyst, however, sees "sufficient differences" in the two categories to keep him "somewhat hopeful" of the possibility of Energizer obtaining approval. In addition, both Energizer and Spectrum have the flexibility to pursue alternate strategies involving buybacks if the battery deal falls through, Alwy tells investors in a research note. As such, the analyst sees "significant upside" from current share levels in either scenario. He keeps a Buy rating on Energizer with a $64 price target and a Buy rating on Spectrum with a $131 price target.
03/06/18
SPHN
03/06/18
NO CHANGE
Target $125
SPHN
Equal Weight
FTC action likely seen as limited negative for J.M. Smucker, says Stephens
After the FTC filed an administrative complaint challenging J.M. Smucker's (SJM) planned acquisition of the Wesson oil brand from Conagra (CAG), Stephens analyst Farha Aslam said the oils category is mature and competitive so an increased presence in the space was not considered optimal. Given that, she thinks the FTC action will likely be seen as a limited negative for Smucker. Aslam maintains her Equal Weight rating on J.M. Smucker shares.
03/20/18
RBCM
03/20/18
NO CHANGE
Target $45
RBCM
Outperform
Conagra Brands is outperforming its U.S. food peers, says RBC Capital
RBC Capital analyst David Palmer writes in his research note titled "Weathering the Storm" that Conagra is executing and surpassing its own expectations at a time when some U.S. food companies are breaking from their long term growth trends to stabilize their sales declines. Palmer acknowledges that Conagra is facing some profit headwinds for Q3 due to higher freight costs and lighter volumes after a weather-related stock-up in Q2, but also points to accelerating base sales and volume growth in the frozen foods segment. The analyst keeps his Outperform rating and $45 price target on Conagra.

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$216.05

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$30.38

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$1,880.70

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LCI

Lannett

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