Argus Downgrades Campbell Soup (CPB) to Hold
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Argus downgraded Campbell Soup (NYSE: CPB) from Buy to Hold on a weaker near-term outlook.
"Although we have a favorable view of Campbell’s efforts to focus on healthier foods, we expect relatively slow growth in the Campbell Fresh division, which posted lower sales in fiscal 4Q16," the analyst said.
The firm is lowering FY17 EPS estimate from $3.24 to $3.02 and setting a preliminary estimate of $3.16 for FY18.
Shares of Campbell Soup closed at $55.38 yesterday.
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