Canned Soup Is Not The Investor Panacea Inflation Worriers Once Hoped, Swiss Bank Analyst Writes

by Shivani Kumaresan, Benzinga Staff Writer

September 6, 2022 3:30 PM | 1 min read |

Credit Suisse analyst Robert Moskow reiterated a Neutral rating on the shares of Campbell Soup Company CPB with a price target of $52.00.
The analyst said he expected a bigger Q4 earnings beat and a more aggressive FY23 guidance as pricing in the food industry is catching up to cost inflation.
Moskow added that the pullback in the stock was due to higher promotional spending and the company calling out a $35 million headwind from lower pension income.
Hence Moskow said the opportunity for outsized pricing and margin recovery might not be as big as investors expect.
Moskow listed downside risk as sales deceleration and upside risk as faster margin recovery.
Price Action: CPB shares are trading lower by 0.63% at $48.62 on the last check Tuesday.
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