10:41 AM EDT, 09/24/2025 (MT Newswires) -- Conagra Brands ( CAG ) is projected to report fiscal Q1 results in line with expectations and maintain its fiscal 2026 guidance, but the food company faces a potential cut to fiscal Q2 consensus estimates, Morgan Stanley said in a Wednesday note.

Conagra is set to release its fiscal Q1 results on Oct. 1, and Morgan Stanley said it expects the period's organic sales growth to improve from fiscal Q4, backed by better scanner sales against easy comparisons.

Fiscal Q2 consensus forecasts, however, "may need to come down" due to "sticky" input cost inflation and slowing scanner sales trends, said the investment firm.

Morgan Stanley lowered its fiscal 2026 earnings per share estimate for Conagra to $1.71 from $1.73.

Morgan Stanley raised its price target on Conagra's stock to $21 from $20, with an equal-weight rating.

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