Campbell Soup: Credit Suisse cuts target price
(CercleFinance.com) - Credit Suisse reinstates its "underperform" rating on the Campbell Soup stock and has cut its corresponding target price from 38 dollars to 30 dollars, after reducing its EPS estimates from 3.
11 dollars to 2.84 dollars for 2018 and from 3.14 dollars to 2.50 dollars for 2019.
The broker points out that last Friday the agri-food group announced the sudden departure of its CEO, quarterly results that were very poor, a profit warning on results and a strategic review.
According to Credit Suisse, its target price for the share implies a discount of 21% compared to peers and 10% compared to the share's historical average, which it thinks is justified by greater risks of integration and cost exposure.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
11 dollars to 2.84 dollars for 2018 and from 3.14 dollars to 2.50 dollars for 2019.
The broker points out that last Friday the agri-food group announced the sudden departure of its CEO, quarterly results that were very poor, a profit warning on results and a strategic review.
According to Credit Suisse, its target price for the share implies a discount of 21% compared to peers and 10% compared to the share's historical average, which it thinks is justified by greater risks of integration and cost exposure.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.