Tuesday, September 14, 2010

Citigroup (NYSE:C) Lowers Price Target on ConAgra Foods (NYSE:CAG)

ConAgra Foods (NYSE:CAG) had its price target lowered by Citigroup Inc. (NYSE:C), as the financial giant said they see slower because because of the weakening economy.

The price target was lowered from $31 to $30 by Citigroup, according to a note to clients.

Citi maintained their "Buy" on ConAgra, although they did lower their earnings per share estimate going forward.

Investors shrugged off the news, as ConAgra rose to $22.01, gaining $0.16, or 0.73 percent, as of 1:50 PM EDT.

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