In a report published on Monday, Morgan Stanley analyst Matthew Grainger reiterated Underweight for Campbell Soup CPB based on unclear prospects for the growth of future soup sales.
In the report, Morgan Stanley pointed out, "While Soup results were undeniably strong, colder weather provided a clear tailwind in 3Q, and our discussions do not suggest a paradigm shift in retailers' views on Soup. As a result, we come away from F3Q with evidence of stronger momentum, but also an outlook for moderating growth as CPB begins to face its most difficult comparisons (Soup +9% in 4Q12) and as RTS inventory levels and weather normalize in F4Q13."
Campbell Soup closed on Monday at $45.78.
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