Citigroup Boosts Price Target, Estimates of ConAgra Foods (CAG)
On Tuesday analysts at Citigroup increased the price target and earning estimates of packaged food company ConAgra Foods, Inc. (CAG).
The analysts now see shares of CAG reaching $35, a +15% upside from Monday’s closing price of $30.32. Citigroup rates ConAgra as a “Buy.”
Citigroup also increased earning estimates as it sees volume trends improving.
ConAgra shares were flat in premarket trading on Monday. The stock is up +14.85% year-to-date.
The Bottom Line
Shares of ConAgra Foods (CAG) have a 3.30% dividend yield, based on last night’s closing stock price of $30.32. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels.
ConAgra Foods, Inc. (CAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability