Why ConAgra Foods (CAG) Stock is Down In Pre-Market Trading

NEW YORK (TheStreet) -- Shares of ConAgra Foods Inc.  (CAG) are down -8.04% to $30.21 after Bank of America (BAC) downgraded its rating to "underperform" from "buy" and lowered its price target to $30 from $34.  

"Valuation is attractive, but with muted earnings growth, high debt, and no dividend growth we expect the stock to underperform," Bank of America said in this morning's research note. 

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TheStreet Ratings team rates CONAGRA FOODS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CONAGRA FOODS INC (CAG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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