Deutsche Bank Has Hold on Campbell Soup Company

Deutsche Bank is out with a research report on Campbell Soup Company (NYSE: CPB) and it has a Hold rating and a $33 price target on shares.

In a note to clients, Deutsche Bank writes, "We recognize a 7% FCF yield, solid balance sheet and low valuation give the stock support. But fundamentals appear to be under pressure including key categories such as U.S. and Intl soup and sauces. Meanwhile we believe new mgmt is looking at M&A in core areas that may help the LT but obscure the current outlook."

Shares of CPB are off 6 cents to $33.70.