CAG - Conagra: The Company's Upside Remains Elevated Going Into Q4

2024-07-09 05:11:40 ET

Summary

• Analysts have a target range of $29 to $34 per share, but I believe the company has a PT of at least $36.5/share, making it a "BUY".
• Conagra Brands is set to present earnings for 1Q24 in three days, with potential upside for investors.
• The company has shown improvements in operating profit, net margin, and cost savings, positioning it for future growth.

Dear readers/followers,

Conagra Brands ( CAG ) is slated to present earnings for 1Q24, which is in three days from my time of writing this article. Because Conagra remains a non-trivial position in my commercial and personal portfolio, I intend to present you with an earnings preview here - both looking at what upside we may get for Conagra.

I have been pushing capital to work here since the company has been cheap, in my estimate. And in my estimate, the company is "cheap" below a $29 share price. My position, net of FX and dividends, is up around 6% so far on average, and I expect a significant outperformance in the future....

For further details see: