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Campbell Soup (CPB) Guidance Cut Not a Complete Surprise, BofA/Merrill Lynch Says; Estimates Cut

February 13, 2015 8:26 AM EST
Get Alerts CPB Hot Sheet
Price: $44.45 +0.86%

Rating Summary:
    2 Buy, 16 Hold, 7 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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.



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