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Investing.com - BTIG initiated coverage on ConAgra Brands Inc. (NYSE:CAG) with a Neutral rating on Monday.
The research firm noted the stock is trading near 9 times fiscal year 2027 earnings per share. This represents a 10% discount to its last twelve months average and a 30% discount to its 10-year average. The stock currently trades at $14.51, near its 52-week low of $15.04, with InvestingPro analysis indicating the company appears undervalued with a Fair Value of $19.
When compared to BTIG’s Food Composite index, ConAgra’s equity trades at a 30% price-to-earnings discount. This discount is in line with the company’s 10-year average relative to the sector.
BTIG analyst Robert Dickerson stated the stock is "not exactly inexpensive on a relative sector basis vs. history."
BTIG does not provide price targets for stocks rated Neutral.
In other recent news, ConAgra Brands has announced a leadership transition with John Brase set to become President and CEO effective June 1, 2026. Brase will succeed Sean Connolly, who will step down from his roles and the Board of Directors on May 31, 2026, after over a decade with the company. This leadership change has prompted BofA Securities to reiterate an Underperform rating with a $15 price target on ConAgra stock. Stifel has maintained a Hold rating with a $17 price target following the announcement.
Additionally, UBS has adjusted its price target for ConAgra to $16 from $20, citing margin pressures and concerns for fiscal year 2027, while maintaining a Neutral rating. The company recently reported a slight miss on third-quarter earnings per share, with top-line growth being offset by weaker margins and a lower equity contribution from Ardent Mills. ConAgra’s fiscal 2026 guidance has been narrowed, with organic sales at the midpoint of previous guidance and adjusted operating margin at the top end. Earnings per share are projected to be at the lower end, at $1.70.
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