Campbell Soup (CPB) Guidance Cut Not a Complete Surprise, BofA/Merrill Lynch Says; Estimates Cut
Get Alerts CPB Hot Sheet
Rating Summary:
2 Buy, 16 Hold, 7 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
BofA/Merrill Lynch maintained a Neutral rating and $48 price target on Campbell Soup (NYSE: CPB) after the company lowered FY guidance on FX headwinds and gross margin pressure.
As a result the firm cut FY15 EPS from $2.44 to $2.36 and FY16 EPS from $2.60 to $2.53.
"We are not completely surprised to see CPB lower it outlook following a number of lackluster earnings reports by other packaged food companies," analyst Bryan Spillane said. However, with meaningful YTD outperform they see limited upside in the stock.
For an analyst ratings summary and ratings history on Campbell Soup click here. For more ratings news on Campbell Soup click here.
Shares of Campbell Soup closed at $47.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 2 reasons why Tesla stock fell on Thursday
- Dollar General (DG) PT Raised to $175 at Argus
- Deutsche Bank Reiterates Buy Rating on Target (TGT), Adds to Q2 Fresh Money List
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ChangeRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!