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Fly News Breaks for April 13, 2018
CPB
Apr 13, 2018 | 07:35 EDT
Goldman analyst Jason English reinstated Campbell Soup with a Sell and $43 price target telling investors he views the company as a "value trap." English believes the market is over-estimating earnings and sees -2%/-6%/-14% risk to consensus FY18/FY19/FY20 estimates and views the balance sheet as "stretched" and notes cash is committed. Given cash costs of the Snyder's Lance integration and below consensus net income, the analyst does not see enough free cash flow to fund its dividend and debt maturities over the next 3 years.
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