UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Campbell Soup Company
In a report published Wednesday, Goldman Sachs Group reiterated its Buy rating on Campbell Soup Company (NYSE: CPB), and slightly raised its price target from $39.00 to $40.00.
Goldman Sachs noted, “CPB reported 1Q13 EPS of $0.88, ahead of GS $0.87 estimate and consensus' $0.85, and reaffirmed FY13 guidance of +10%-12% sales, 4%-6% EBIT growth, and 3%-5% EPS growth over 2012 that implies FY13 EPS of $2.51-$2.57. We modestly adjust estimates to reflect FX, guidance on quarterly sales and marketing expense and a modest benefit from the Hostess disruption.”
Campbell Soup Company closed on Tuesday at $36.21.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.