KeyBanc Raises Estimates on Campbell Soup (CPB); Bolthouse Farms Acquisition Accretive to 2013

KeyBanc maintains a 'Hold' on Campbell Soup (NYSE: CPB).

KeyBanc analyst said, "CPB will pay $1.55 billion in cash (which will be financed entirely by debt) for Bolthouse, and expects the deal to be accretive to FY13 EPS by
$0.05-$0.07 (or 2.5% accretion on the FY13 consensus estimate of $2.40 prior to the deal announcement)...we are increasing our FY13 EPS estimate by $0.05 from $2.44 to $2.49."

KeyBanc noted that despite this being one of the biggest deals in CPB's history, it isn't meaningful enough to become more positive on shares.

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 $32.72 yesterday.

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