Campbell Soup (CPB) PT Lowered to $58 at Jefferies

December 10, 2020 8:14 AM EST
Get Alerts CPB Hot Sheet
Price: $44.57 +0.68%

Rating Summary:
    3 Buy, 12 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies analyst Rob Dickerson lowered the price target on Campbell Soup (NYSE: CPB) to $58.00 (from $59.00) while maintaining a Buy rating.

The analyst commented, "We edge our FY'21 EPS est. higher post-CPB’s Q1 beat (OP +10% vs. Street). Despite posting a second consecutive qtr. of positive results, the stock was down ~2% today given forthcoming Q2 GM giveback, potentially decelerating y/y Q2 sales growth, and a Q2 guide a penny short of consensus on the high end. Our Buy thesis is focused on3YR EPS CAGR off 2019 base vis-à-vis a discounted valuation and strategic optionality going forward."

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