JPMorgan Cuts PT on Conagra Brands (CAG) to $17 From $19 – Here’s Why

Conagra Brands, Inc. (NYSE:CAG) is one of the best undervalued defensive stocks for 2026. Conagra Brands, Inc. (NYSE:CAG) received a rating update from JPMorgan on March 20. The firm cut the price target on the stock to $17 from $19 and maintained a Neutral rating on the shares. The rating update came as part of a fiscal Q3 preview, with the firm stating that the company’s earnings growth could be limited by inflation going forward.

In a separate development, Conagra Brands, Inc. (NYSE:CAG) was downgraded to Underweight from Equal Weight by Wells Fargo on March 12. The firm also cut the price target on the stock to $15 from $20, telling investors in a research note that it downgraded three food names to Underweight, citing their higher leverage and dividend payout ratios as well as earnings risk. It added that factors such as the “convergence” of earnings risk, higher leverage, and “tight” dividends will likely drive share underperformance relative to peers. The firm also stated that it sees negative profit catalysts for Conagra Brands, Inc. (NYSE:CAG).

Conagra Brands, Inc. (NYSE:CAG) is a consumer-packaged goods food company that operates in three segments: Grocery & Snacks, Refrigerated & Frozen, and International. Its brand portfolio encompasses Birds Eye, Duncan Hines, Healthy Choice, Marie Callender’s, Reddi-wip, and BOOMCHICKAPOP.

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