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UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Campbell Soup Following Strong 3Q13 Results

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In a report published Tuesday, Jefferies analyst Thilo Wrede reiterated a Hold rating on Campbell Soup (NYSE: CPB), and raised the price target from $40.00 to $44.00.

In the report, Jefferies noted, “CPB reported a strong performance of the U.S. soup business in 3Q13 with 11% organic growth for the U.S. Simple Meals segment. Mgmt therefore declared the segment stabilized, shifting the focus to profitable growth. We hope that the strong performance was not driven by one-time factors. At the same time, additional – albeit smaller – improvement projects remain, e.g., U.S. Beverages and Foodservice.”

Campbell Soup closed on Monday at $47.63.

Latest Ratings for CPB

DateFirmActionFromTo
Feb 2018Morgan StanleyMaintainsUnderweightUnderweight
Feb 2018JP MorganMaintainsOverweightOverweight
Jan 2018CitigroupUpgradesNeutralBuy

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