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Fly News Breaks for December 20, 2019
CAG
Dec 20, 2019 | 09:07 EDT
Evercore ISI analyst David Palmer raised his price target for Conagra Brands to $39 from $35 and reiterates an Outperform rating on the shares following the company's fiscal Q2 results. The company's organic growth was broadly ahead of estimates, especially so in legacy Pinnacle brands, Palmer tells investors in a research note. The analyst's "bull case scenario" of $47 per share assumes Conagra exits fiscal 2020 with 2%-3% organic sales growth.
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