Deutsche Bank Reiterates Hold on Campbell Soup Company Following F3Q13 Earnings Preview

In a report published Wednesday, Deutsche Bank analyst Eric Katzman reiterated a Hold rating and $46.00 price target on Campbell Soup Company

. In the report, Katzman noted, “A stabilizing soup business supported by better Nielsen data helps explain the stock's outperformance of late. While Campbell's valuation (18.3x C2013E P/E vs. 19.2x group avg) remains low vs. peers, we believe this is still reasonable given the ongoing soup turnaround, limited EM exposure, and questions around non-soup trends. Campbell Soup reports F3Q13 (end Apr) results on Mon., Feb 20th. We expect opr. EPS of $0.56 (in line with cons.), with sales up 11% (incl. +10% acq) and EBIT up 6-7%. Senior mgmt will host a conf. call at 10:00 am EST.” Campbell Soup Company closed on Tuesday at $47.64.