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

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  • 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.
  • Photo via Company
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