RBC Capital Reiterates Outperform on ConAgra Brands (CAG) Following 2Q Report

RBC Capital reiterated an Outperform rating and $42.00 price target on ConAgra Brands (NYSE: CAG) following the company's 2Q earnings report. Adjusted diluted EPS of $0.49 beatthe street estimates of $0.45. Revenue of $2.09B was below the consensus of $2.1B.

Analyst David Palmer commented, "We are maintaining our above-consensus EPS estimates and price target following better-than-expected fiscal 2Q17 results. While our estimates remain the same, we are increasing our projected gross margin expansion and overhead reductions and trimming sales expectations. We continue to see EPS and stock upside from improved revenue management (promotion efficiency and SKU rationalization), increased innovation and M&A potential. We reiterate our Outperform rating."

For an analyst ratings summary and ratings history on ConAgra click here. For more ratings news on ConAgra click here.

Shares of ConAgra closed at $39.29 yesterday.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Assurant (AIZ) is Piper Sandler's Weekly Focus Idea
• Broadridge Financial (BR): RBC Capital's takeaways from Tokenization presentation