Deutsche Bank reiterated its Neutral rating on Campbell Soup CPB and raised its price target from $33 to $34.
Deutsche Bank commented, "The stock has performed well of late despite a tough packaged food market and muted F2013 guidance. We believe this is due to the promise of new products, possible increased consumption (Sandy/nor-easter), restructuring activity vs. low valuation (6% FCF yield, 14x C2013 P/E). Yet we retain our HOLD opinion on fundamental challenges. … We look for comments on the recent restructuring, an update on the Bolthouse integration as well as trends for the profitable yet competitive Baking & Snacking area."
Campbell Soup closed at $36.58 on Tuesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in