12:51 PM EDT, 04/01/2024 (MT Newswires) -- Conagra Brands ( CAG ) is expected to post "largely in-line" results for fiscal Q3 with growth in international and foodservice, and display sequential volume progress, partially offsetting pressure in domestic retail, RBC Capital Markets said in a note Monday.

"We expect the quarter to be ok, but don't see material upside," RBC said.

The firm noted that the company reiterated its fiscal 2024 guidance on Feb. 20, about a week before the end of the quarter.

"At a segment level, we see upside in grocery and snacks and modest downside in refrigerated and frozen and would expect that [Conagra] benefited from colder weather in January, which supported volumes across packaged food," the firm said.

RBC maintained its sector perform rating and $29 price target for Conagra, which is set to release fiscal Q3 results Thursday.