With the markets in a choppy/consolidation mode (or perhaps worse), it's best to consider including a few defensive stocks in your portfolio. And with the above in mind ConAgra is worth an evaluation.ConAgra (NYSE: CAG) is one of the largest food companies in North America.
Analysts see moderate revenue growth for ConAgra in F2008, with large profits from its trading and merchandising businesses. CAG's food / ingredients unit should also register a solid increase in earnings.
Meanwhile, CAG's consumer foods line should perform adequately in F2008: analysts had originally expected the unit to record lower profits, but there are abundant signs that that will not be the case. The Reuters F2008/F2009 EPS consensus estimates for CAG are $1.59/$1.63.
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