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ConAgra Foods Stock Seen Rising Thirty Percent

ConAgra Foods Chef Boyardee brand mini ravioli is displayed for a photograph in Tiskilwa, Illinois, U.S., on Monday, March 23, 2015. ConAgra Foods, Inc., is scheduled to report its fiscal 2015 third-quarter results on Thursday, March 26, 2015. Photographer:  Daniel Acker/BloombergConAgra Foods Chef Boyardee brand mini ravioli is displayed for a photograph in Tiskilwa, Illinois, U.S., on Monday, March 23, 2015. ConAgra Foods, Inc., is scheduled to report its fiscal 2015 third-quarter results on Thursday, March 26, 2015. Photographer:  Daniel Acker/Bloomberg

ConAgra Foods’ stock could climb up to 30% in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron’s said in its latest online edition.

After ConAgra sold its Spicetec Flavors & Seasonings for about $340 million to Givaudan last week, Barron’s said analysts speculate it might consider sales of other brands including Lamb Weston, its commercial frozen potato business.

Without Lamb Weston, the Omaha-based company would remain the second biggest U.S. frozen entree producer and top maker of shelf-stable meals with $9 billion in annual revenue, the paper said.

Analysts expect ConAgra’s revenue to fall to $11.7 billion in fiscal 2016 following the sale of its private-label food business to Treehouse Foods for $2.7 billion. This compared with $15.83 billion the prior fiscal year.

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ConAgra CEO Sean Connolly, who took over the post last April, might be preparing ConAgra for sale, Barron’s said. Connolly aims to cut $300 million in annual costs, which make up of $200 million in selling, general and administrative expenses and $100 million in ineffective trade promotions, the business weekly said.

ConAgra (CAG) carries a hefty price tag. Its current market capitalization was nearly $19.8 billion on Friday when its shares closed down 0.4% at $45.29.

“But with Lamb Weston gone and his new strategy kicking in, the food giant might be a tasty target,” Barron’s said.