Bernstein Reiterates Market Perform Rating on ConAgra (CAG)

Bernstein SocGen Group analyst Alexia Howard reiterated a Market Perform rating and $21.00 price target on ConAgra (NYSE: CAG).

The analyst commented: "We recently met with Conagra’s leadership team, including CEO Mr. Sean Connolly and CFO Mr. Dave Marberger. Here are the main takeaways from the conversation.

The company saw seven quarters of sequential underlying volume improvement before supply chain challenges hit in 3Q last fiscal year and service levels are now back up to 98% (and >99% at certain large retailers). By 2H:FY26 there should be a positive inflection in volumes and the momentum should continue into FY27. At the same time, the industry remains concerned about how the holiday season will play out given rising inflation due to tariffs and the recent government shutdown. But the company has a very strong slate of innovation this year, similar to the level seen last year. As a result, they are seeing better distribution metrics and velocities in store."

For an analyst ratings summary and ratings history on ConAgra click here. For more ratings news on ConAgra click here.

Shares of ConAgra closed at $17.30 yesterday.

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