Argus Downgrades Campbell Soup (CPB) to Hold

Argus downgraded Campbell Soup (NYSE: CPB) from Buy to Hold on a weaker near-term outlook.

"Although we have a favorable view of Campbell’s efforts to focus on healthier foods, we expect relatively slow growth in the Campbell Fresh division, which posted lower sales in fiscal 4Q16," the analyst said.

The firm is lowering FY17 EPS estimate from $3.24 to $3.02 and setting a preliminary estimate of $3.16 for FY18.

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 $55.38 yesterday.

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