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Consumer staples edge higher on ConAgra boost


    NEW YORK (Reuters) - Consumer staples stocks were edging higher heading into the latter stages of trading, as ConAgra shares climbed in the wake of its quarterly earnings.

    The S&P consumer staples index was up 0.2 percent, buoyed by a 4.6 percent jump in ConAgra to $33.48 after the company posted a higher-than-expected quarterly profit and said its consumer foods business was recovering. The gains would mark the biggest jump for the stock since December.

    Since hitting a three-month high on September 8, ConAgra shares had come under modest pressure, falling 2 percent through Wednesday. The stock may have room to advance, however, with Thomson Reuters StarMine holding an intrinsic value of $37.14 on the stock, roughly 11 percent higher than its current value.

    (Editing by Bernadette Baum and Nick Zieminski)