Evercore analyst David Palmer maintains $Conagra Brands (CAG.US)$ with a hold rating, and maintains the target price at $31.
According to TipRanks data, the analyst has a success rate of 65.2% and a total average return of 7.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Conagra Brands (CAG.US)$'s main analysts recently are as follows:
Following Conagra Brands' fiscal Q1 earnings report, which revealed earnings of 53c falling short of expectations due to subdued underlying sales, profits were additionally impacted by temporary manufacturing issues at Hebrew National. Even without these disruptions, both sales and margins for the quarter did not meet projections. This raises doubts about the feasibility of the company's previously stated 'achievable guidance', prompting a revision of future earnings forecasts.
The recent decline in Conagra Brands' shares post-results may be deemed an overreaction, considering that the primary reason for the Q1 EPS shortfall is attributed to the underestimation of the company's anticipated profit recovery trajectory for FY25.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
