Bernstein Says 3G Could Eventually Make A Move For Campbell Soup

Shares of Campbell Soup CPB are performing inline with the broader indices Monday afternoon despite an earlier research note from Bernstein's Alexia Howard suggesting the company could be a takeover target. The stock last traded at $40.99, up 0.6 percent, compared to the DJIA which is trading up more than 0.9 percent. Howard believes Campbell would be a practical next acquisition for 3G -- an assumption which makes even more sense following the Heinz deal. Howard mentioned synergies with Heinz. The Bernstein analyst warned a possible deal between the two is likely "some way off." She noted 3G is extremely preoccupied with reducing costs at Heinz and is probably too financially stretched to do a deal with Campbell over the near term. Howard maintains a Market Perform rating and $40 price target on shares of Campbell Soup.