RBC Capital Cuts Price Target on Campbell Soup (CPB) Following 4Q
- Wall Street falls as bank, healthcare shares weigh
- Qualcomm (QCOM) Faces U.S. Antitrust Case Over Licensing - Bloomberg
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Verizon Communications (VZ) May Acquire Big Cable Company - NYP (CHTR) (CMCSA)
- Citron Research Negative on Lannett (LCI); Sees Shares at 'Zero' Over Long Term
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
RBC Capital maintained a Sector Perform rating on Campbell Soup (NYSE: CPB), and cut the price target to $58.00 (from $62.00), following the company's 4Q earnings report. RBC Capital cut 2017 EPS estimates from $3.13 to $3.02, compared to $3.14 consensus. RBC also introduced a 2018 estimate of $3.17.
Analyst David Palmer commented, "We are lowering our FY17 and FY18 EPS estimates to reflect significant core business reinvestment and slower anticipated growth in the C-Fresh segment. We continue to believe the company is less likely to pursue aggressive peer-like margin step-ups and therefore forecast 3%-5% EPS growth over the next 1-2 years - below its peer average of 8%-10%. We maintain our Sector Perform rating but lower our price target."
Shares of Campbell Soup closed at $56.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Bernstein Upgrades Lions Gate (LGF) to Outperform
- Wedbush Raises Price Target on Trex (TREX) to $58; Reiterates Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
Sign 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!