BofA Trims Conagra Brands, Inc. (CAG)’s Price Target To $13, Keeps Underperform Rating

Conagra Brands, Inc. (NYSE:CAG) is among the 10 Most Oversold S&P 500 Stocks So Far in 2026. On May 28, BofA analyst Peter Galbo lowered the price target on the stock to $13 from $15 and reiterated an Underperform rating.

The firm made the adjustment after it revised quarter-end sales estimates for certain packaged food companies.

This follows Wells Fargo’s update on May 18, when it maintained its Underweight rating on Conagra Brands, Inc. (NYSE:CAG) and cut the price target on the stock to $13 from $14.

As of the close of business on May 29, Wall Street has a Hold rating on the stock, based on 16 analysts’ recommendations, with an average share price upside potential of 16%.

On April 1, Conagra Brands, Inc. (NYSE:CAG) reported financial results for the third quarter of fiscal 2026. Revenue declined 1.9% year-over-year to $2.79 billion, but beat analysts’ estimates of $2.76 billion. Adjusted EPS came in at $0.39, down 23.5% from the prior year and missing expectations by one cent.

During the earnings call, management said it was trimming fiscal 2026 profit guidance to the lower end of the previously estimated range, citing heightened volatility in certain commodity markets due to the war in Iran.

Conagra Brands, Inc. (NYSE:CAG) is a North American branded food company doing business for over a century. Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, and others.

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