Conagra Brands: Jefferies maintains buy rating
(CercleFinance.com) - On Wednesday a Jefferies analyst confirmed a buy rating for the Conagra Brands share.
"Our recent rating upgrade to Buy was driven by advantaged positioning, margin expansion potential, realistic LT targets, upward consensus revision probability, and inexpensive valuation relative to peers. What we heard today from mgmt. further increased our conviction on the name. At the current 20% discount relative to the food group (which is trading at 20-yr. low relative to the market), we continue to find the risk/reward attractive," the broker said.
Jefferies therefore confirms its target price of 41 dollars for the share (17% upside potential).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Our recent rating upgrade to Buy was driven by advantaged positioning, margin expansion potential, realistic LT targets, upward consensus revision probability, and inexpensive valuation relative to peers. What we heard today from mgmt. further increased our conviction on the name. At the current 20% discount relative to the food group (which is trading at 20-yr. low relative to the market), we continue to find the risk/reward attractive," the broker said.
Jefferies therefore confirms its target price of 41 dollars for the share (17% upside potential).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.