Goldman Sachs Provides Color on ConAgra, Neutral

Goldman Sachs provided color on ConAgra (NYSE: CAG) ahead of the company's quarterly earnings report, which is due to be published on Thursday, June 23.

In a research report published today, Goldman states, "ConAgra (CAG, Neutral) reports 4QFY11 results and issues its FY12 outlook on Thursday, June 24. We expect EPS of $0.48 (in line with the Street) on above-consensus sales/below consensus margins. We expect guidance of 6%-8% EPS growth – bracketing consensus and in line with CAG's long-term target. Investors we have spoken with of late have expressed concern about CAG's fundamental outlook and in-line results could be met with relief."

At the moment, Goldman has a Neutral rating and a price target of $28 placed on the company's stock. On Friday, ConAgra finished the week at $24.65.