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Fly News Breaks for January 22, 2020
CPB
Jan 22, 2020 | 17:48 EDT
As previously reported, Jefferies analyst Rob Dickerson initiated coverage of Campbell Soup (CPB) with a Hold rating and $49 price target. The analyst said the "much-needed portfolio simplification" should position the company for growth, barring the core soup business stabilizing. However, Dickerson sees the turnaround of the soup category as a "show-me story," and said with a 5% premium to the group, he would seek growth elsewhere, although he added he would revisit if soup turns meaningfully.
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