Preemarkegt price is higher but i too think it will back off. The premarket price of $38 is 15X estimated earnings for next year. This is where it has laways backed off. The earnings do not grow at 15%. Actually, th earnings are down and the last acquistion is really going to be a drag. The bad thing is the suspension of stock buy backs. CPB just plain over paid for the acquisition.I am bailing here.
you're leaving just as the party is getting started. I might add the stock is only off about 50 cents from the earnings call high, hardly a disappointment.
If you may recall, Heinz was stuck in the mud for years, and look at the price now. Anyone who bailed in the high 40's (where many a pundit thought was the top) is not a happy camper.
Denise is doing a great job, making good decisions. My price target is $40-$42 by next summer.