- The shares of Conagra Brands Inc (NYSE: CAG) have received a $36 price target from Morgan Stanley. These are the details.
The shares of Conagra Brands Inc (NYSE: CAG) have received a $36 price target from Morgan Stanley. And Morgan Stanley analyst Pamela Kaufman increased the price target on Conagra Brands from $35 while maintaining an “Equal-Weight” rating on the shares.
Kaufman noted that the Packaged Food group underperformed the market over the last year, but has seen stronger performance in the last month due to sector rotation and a rise in COVID-19 cases that supports near-term demand. And Kaufman expects food multiples to be constrained by a more challenging fundamental outlook and prefers companies leveraged to a post-COVID topline recovery, benefit from secular growth tailwinds, and have stronger pricing power.
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