Analyst Actions: ConAgra Foods Target Raised $3 at Credit Suisse; Shares Edge Higher

By Staff,

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Credit Suisse has raised its target price on ConAgra Foods, Inc. ( CAG ) to $32 from $29 a share.

The firm said that while it is "intrigued" by the cost savings and earnings accretion enabled by the company's acquisition of Ralcorp, it recommends waiting for a better entry price before buying the stock.

"The operating challenge of running a branded business alongside a very large private label business side-by-side sounds like a tough one," said Credit Suisse. "Eventually, the two businesses are bound to give conflicting messages to their retail customers about how to merchandise their shelves."

CAG is up 0.14% to $29.67 amid a 52-week range of $23.64 - $29.81.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CAG

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