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Fly News Breaks for July 7, 2017
CPB
Jul 7, 2017 | 07:40 EDT
Credit Suisse analyst Robert Moskow believes Campbell Soup's acquisition of organic foods company Pacific Foods makes sense, but he feels the deal comes at a high price tag with low margin. At 20 times EBITDA for a low operating margin business, the acquisition won't provide many financial benefits nor help the shares, Moskow tells investors in a research note. He lowered his price target for Campbell Soup to $50 from $53 and keeps an Underperform rating on the name.
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