BofA Securities analyst Peter Galbo maintains $Conagra Brands (CAG.US)$ with a hold rating, and sets the target price at $33.
According to TipRanks data, the analyst has a success rate of 47.2% and a total average return of 1.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Conagra Brands (CAG.US)$'s main analysts recently are as follows:
Conagra Brands' recent fiscal Q1 earnings fell short of expectations, coming in at 53c compared to the anticipated 60c, influenced by subdued underlying sales and additional strains from transitory manufacturing disruptions at Hebrew National. Even when looking past the disruption, the company's sales and margins for the quarter were still below projections. This performance brings into question the company's previously described 'achievable guidance.' Following these events, projections for FY25 adjusted EPS have been revised.
The recent decline in Conagra Brands' share price following its results may be an excessive reaction. This is considering that the primary reason for the first-quarter earnings per share shortfall is likely due to underestimations of the anticipated recovery in profits for FY25.
Note:
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