Argus Upgrades Campbell Soup (CPB) to Buy

Argus upgraded Campbell Soup (NYSE: CPB) from Hold to Buy with a price target of $65.00.

The firm notes with the acquisitions of Bolthouse Farms, Plum Organics and Garden Fresh Gourmet, Campbell Soup is shifting its product mix toward faster-growing areas of the packaged foods market. In addition, the company is focused on lowering cost and using savings to invest in its core brands.

Argus raised FY16 EPS estimate from $2.54 to $2.84 and our FY17 estimate from $2.72 to $3.04.

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 $52.24 yesterday.

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