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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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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