Goldman Sachs Reiterates Neutral, $26 Target on ConAgra

Goldman Sachs maintains its Neutral rating and $26 target price on ConAgra Foods (NYSE: CAG) as the company is benchmarked against Walmart (NYSE: VMT) on Nielsen's FDMx list.

Goldman Sachs says, "this period reflects the closest comparable period to ConAgra's F2Q2012. As we highlighted in our earnings preview note this past Tuesday, we see downside risk to ConAgra into the print as Nielsen FDMx measured volume trends point to weaker than expected volume growth from its Consumer Products segment this quarter. This FDMW data does not change that view given ConAgra's dollar sales and volume sales performance is weaker with Walmart added in each of its top five categories (note that some categories are reported on a rolling 52 week basis and sequential trends are important to monitor)."

CAG closed at $25.55 per share on Thursday.