(News Bulletin 247) – While maintaining its ‘neutral’ view on Conagra Brands, Credit Suisse raises its price target from $35 to $40 in the wake of upgraded EPS estimates for fiscal years 2023 and 2024, to 2. $71 and $2.88.
‘Conagra published a solid second quarter and raised its objectives for the year by 9%, well above our expectations’, underlines the broker, who also highlights a ‘fairly convincing’ speech from the management of the agri-food group .
‘However, as we have seen with the relatively lukewarm reaction of stock market action, the market had already integrated most of this good news,’ points out Credit Suisse in the summary of its note.
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