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CAG

Conagra Brands

$21.58

0.34 (1.60%)

14:06
01/21/19
01/21
14:06
01/21/19
14:06

Conagra exploring alternatives for Italian-based frozen pasta business

Conagra Brands announced that it is exploring strategic alternatives for its Italian-based frozen pasta business, Gelit, which is headquartered in Doganella di Ninfa, Italy. Gelit is a producer of Italian frozen food and ready meals, primarily for private label customers. The business employs approximately 145 full-time employees. Conagra Brands has engaged BNP Paribas to assist with this process. The company added in a statement, "Conagra Brands has not set a timetable for the strategic process nor has it made any decisions relating to any strategic alternatives at this time, and no assurance can be given as to the outcome of the process. Conagra Brands does not intend to disclose additional details unless and until further disclosure is appropriate or necessary."

  • 22

    Jan

CAG Conagra Brands
$21.58

0.34 (1.60%)

01/07/19
UBSW
01/07/19
NO CHANGE
Target $33
UBSW
Buy
Conagra Brands weakness a buying opportunity, says UBS
UBS analyst Steven Strycula said the December selloff in Conagra Brands has created a compelling entry point and offers the best setup in U.S. Food with a greater than 50% upside potential. The analyst believes the Pinnacle Foods merchandising missteps are fixable and attributes underperformance of supply chain cost overruns and an over-commitment to its 2019 margin goal. Strycula reiterated his Buy rating and $33 price target on Conagra shares.
01/02/19
01/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Henry Schein (HSIC) downgraded to Neutral from Outperform at Baird with analyst Jeff Johnson saying he is more cautious on the combination of the dental sector's secular overhangs, softer Q4 patient volume checks, and accelerating equipment pricing pressures. 2. Conagra Brands (CAG) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jason English saying while the stock's 41% decline since October 23 is overdone, the "path of recovery is likely to be protracted." 3. BioMarin (BMRN) downgraded to Market Perform from Outperform at Raymond James with analyst Laura Chico saying BioMarin lacks near-term catalysts which makes it more vulnerable in a "risk off" environment. 4. Hologic (HOLX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lewis saying his checks with about 40 medspas highlighted market saturation of body sculpting devices. 5. Louisiana-Pacific (LPX) downgraded to Neutral from Buy at BofA/Merrill with analyst George Staphos citing the steep drop-off in 2H 2018 panel pricing and challenging 1H 2019 comparisons versus 1H 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/19
GSCO
01/02/19
DOWNGRADE
Target $31
GSCO
Buy
Conagra Brands downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Jason English removed Conagra Brands from his firm's Americas Conviction List but keeps a Buy rating on the name. He also lowered his price target for the shares to $31 from $42. While the stock's 41% decline since October 23 is overdone, the "path of recovery is likely to be protracted," English tells investors in a research note. The analyst views Conagra as oversold but sees a lack of catalysts for the stock until the spring.
12/21/18
FBCO
12/21/18
NO CHANGE
Target $26.5
FBCO
Neutral
Conagra Brands price target cut to $26.50 from $35 at Credit Suisse
Credit Suisse analyst Robert Moskow maintained a Neutral rating on ConAgra Brands but lowered his price target to $26.50 from $35 following the company's quarterly report. In a research note to investors, Moskow lowered his FY19 and FY20 EPS estimates to $2.07 and $2.16, respectively, from $2.11 and $2.37. He noted that the stock fell 17% on Thursday after management slashed expectations for the $10.9B Pinnacle acquisition for the next 12 months due to a litany of product innovation missteps and unprofitable trade promotions by the prior management team.

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

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FTNW

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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

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RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

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NWSA

News Corp.

$13.48

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New York Times

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WAIR

Wesco Aircraft

$11.01

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FOMX

Foamix

$3.15

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BK

BNY Mellon

$45.34

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Foamix

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BAC

Bank of America

$30.37

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LGC

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$10.24

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MFGP

Micro Focus

$15.13

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, OTEX

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BA

Boeing

$344.01

-25.12 (-6.81%)

, ORCL

Oracle

$54.55

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