Conagra Brands dips after BofA downgrades to 'underperform'

Shares of Slim Jim-maker Conagra Brands CAG.N down ~2% at $22

BofA Global Research cuts rating on stock to "underperform" from "neutral", citing re-accelerated commodity costs of protein - chicken, beef, pork - to be meaningful headwinds to CAG's earnings growth

Brokerage finds it unlikely for CAG to rely solely on additional pricing to offset these costs and will likely have to
manage through using productivity or other cost-savings initiatives, says BofA analyst Peter Galbo

Adds, supply chain disruptions, which CAG faced during third quarter of 2025 in its frozen food and refrigerated business, would likely continue to be a headwind through 1Q26

Two of 19 brokerages rate the stock "buy", 15 "hold" and two "sell"; their median PT is $25 - data compiled by LSEG

Including session moves, stock down about 21% YTD