UPDATE: Jefferies Upgrades Campbell Soup (CPB) to Buy

June 22, 2020 5:23 AM EDT
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Price: $43.72 -0.5%

Rating Summary:
    3 Buy, 12 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - June 22, 2020 6:08 AM EDT)

(updating comment)

Jefferies analyst Rob Dickerson upgraded Campbell Soup (NYSE: CPB) from Hold to Buy with a price target of $59.00 (from $53.00).

The analyst comments "CPB, in much earlier stages of its turnaround story than CAG, benefits from a pull-forward in planned efficiencies, namely product offering and production-line optimization with a focus on core/high-velocity SKUs, which we believe generates incremental margin expansion potential, brand reinvestment firepower, and financial deleverage, thereby leaving consensus too low in FY’23, all at an attractive valuation and risk/reward. We’re at $3.35 in FY’23 EPS vs $3.07 consensus (~9% higher)."

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 $49.58 yesterday.

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