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Deutsche Bank Previews ConAgra Foods' Q2 Earnings

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ConAgra Foods Inc (NYSE: CAG) will reports its second-quarter results on Thursday. Analysts are expecting the company to earn $0.60 per share in the quarter.

In a note to clients on Monday, Eric Katzman of Deutsche Bank expects the company to also earn $0.60 per share in the quarter on revenue of $4.2 billion.

Katzman expects a Commercial recovery offsetting a weaker Consumer and Private Brands. As such, the analyst expects the company's EBIT to fall 8 percent from a year ago to $417 million.

“We expect investors to focus on top line dynamics, particularly volume versus pricing in the key Consumer segment,” Katzman wrote. “While Commercial should be helped by lapping a customer loss and an improving potato crop, we anticipate a focus on Private Label trends and any sequential improvement.”

Katzman will be paying attention to commentary surrounding input costs and potentially an update on the CEO search. The analyst also notes that he sees “minimal” Board support for a break-up of the company.

Shares are Hold rated with a $34 price target.

Latest Ratings for CAG

DateFirmActionFromTo
Jan 2022Morgan StanleyMaintainsEqual-Weight
Oct 2021JP MorganDowngradesOverweightNeutral
Sep 2021Credit SuisseUpgradesUnderperformNeutral

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Posted-In: Deutsche Bank Eric Katzman Food Sales Potato CropAnalyst Color Previews Analyst Ratings Trading Ideas

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