- 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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CPBThe Campbell's Co
$30.820.03%
Edge Rankings
Momentum
15.46
Growth
14.60
Quality
7.98
Value
41.12
Price Trend
Short
Medium
Long
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