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Lagging Food Stock Looks for a Post-Earnings Reprieve
Conagra Brands Inc (CAG) is set to report its fiscal third-quarter earnings on April 1, with the stock currently near 16-year lows despite a recent attempt at a bounce. The options market is pricing in a larger-than-average move post-earnings, and there is significant bearish sentiment from options traders and short sellers. An unwinding of this pessimism or analyst upgrades could provide a boost to the stock.