RBC Capital Cuts Price Target on Campbell Soup (CPB) Following 4Q
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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."
Shares of Campbell Soup closed at $56.91 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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