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.
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