Conagra Brands shares pick up as UBS is upbeat on its growth potential
Conagra Brands Inc (NYSE:CAG), the packaged food titan, saw shares advance Monday as analysts at Swiss broker UBS upgraded the shares.
Analysts at the bank went to buy from neutral on the stock due to its long term growth potential and that the current weakness in the shares were overdone.
Its acquisition of Pinnacle Foods, which should close by the end of October, is also a trigger for growth.
The price target was upped to $40 from $38.
Last month, the group posted a slight miss in earnings per share (EPS) and revenue for the fiscal first quarter of 2019, sending shares over 5% lower.,
First-quarter revenue came in 1.7% higher than last year’s $1.8 billion, but below the consensus expectation of $1.85 billion.
Earnings per share were at $0.47, which was in line with the company’s guidance and up from last year’s $0.46, but the number was below the expected EPS of $0.49
Shares added 3.25% on Monday to $34.68 in New York.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/206615/conagra-brands-shares-pick-up-as-ubs-is-upbeat-on-its-growth-potential-206615.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).