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Canned Soup Is Not The Investor Panacea Inflation Worriers Once Hoped, Swiss Bank Analyst Writes

·1 min read
  • Credit Suisse analyst Robert Moskow reiterated a Neutral rating on the shares of Campbell Soup Company (NYSE: CPB) with a price target of $52.00.

  • The analyst said he expected a bigger Q4 earnings beat and a more aggressive FY23 guidance as pricing in the food industry is catching up to cost inflation.

  • Moskow added that the pullback in the stock was due to higher promotional spending and the company calling out a $35 million headwind from lower pension income.

  • Hence Moskow said the opportunity for outsized pricing and margin recovery might not be as big as investors expect.

  • Moskow listed downside risk as sales deceleration and upside risk as faster margin recovery.

  • Price Action: CPB shares are trading lower by 0.63% at $48.62 on the last check Tuesday.

  • Photo via Company

Latest Ratings for CPB

Date

Firm

Action

From

To

Mar 2022

Citigroup

Maintains

Neutral

Mar 2022

RBC Capital

Maintains

Outperform

Jan 2022

Morgan Stanley

Maintains

Equal-Weight

View More Analyst Ratings for CPB

View the Latest Analyst Ratings

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