TD Cowen: 'We expect Campbell's stock down on weak guidance below consensus'

TD Cowen analyst Robert Moskow reiterated a Hold rating and $22.00 price target on The Campbell's Co. (NASDAQ: CPB)

The analyst comments "We expect Campbell's stock down on weak guidance below consensus and a 36% dividend cut. EPS guidance of $1.65 to $1.80 compared to consensus of $1.83. Organic net sales expected down -4% to -2% vs consensus of -1% despite claims of a stronger new product pipeline. Mgmt announced a new $500M cost savings program over four years, including a 13% workforce reduction that already took place."

For an analyst ratings summary and ratings history on The Campbell's Co. click here. For more ratings news on The Campbell's Co. click here.

Shares of The Campbell's Co. closed at $23.78 yesterday.

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