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UPDATE: Credit Suisse Raises PT on Campbell Soup Company on Raised Estimates

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In a report published Monday, Credit Suisse reiterated its Underperform rating on Campbell Soup Company (NYSE: CPB), and raised its price target from $35.00 to $40.00.

Credit Suisse noted, “We are raising our estimates modestly on Campbell to $2.55 and $2.70 from $2.54 and $2.68 for FY 13 and FY 14 because we believe the company has made significant progress stabilizing its soup business. However, we are keeping our underperform rating on the stock because of the company's below-peer growth rate and because of our concern that the ‘dual mandate' for growth will lead to dilution of profit margins given it depends heavily on growing the lower margin categories outside of soup.”

Campbell Soup Company closed on Friday at $40.13.

Latest Ratings for CPB

DateFirmActionFromTo
Mar 2017BernsteinDowngradesMarket PerformUnderperform
Feb 2017Deutsche BankInitiates Coverage OnHold
Nov 2016Credit SuisseMaintainsUnderperform

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Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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