RBC Capital Cuts Price Target on Campbell Soup (CPB) Following 4Q

September 2, 2016 6:54 AM EDT
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Price: $61.85 +0.21%

Rating Summary:
    0 Buy, 8 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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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."

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 $56.91 yesterday.

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