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CPB

Campbell Soup

$42.04

0.02 (0.05%)

07:50
08/20/18
08/20
07:50
08/20/18
07:50

Campbell Soup price target raised to $42 from $34 at Wells Fargo

Wells Fargo analyst John Baumgartner raised his price target for Campbell Soup to $42 from $34 as he weighs strategic options for the company. Ahead of the company's strategic review and Q4 EPS, the analyst concludes that with proper execution, U.S. soup can be stabilized and in time Campbell can achieve its long-term growth rates, portfolio adjustments should include the divestitures of C-Fresh and Asian Global Baking & Snacking, and a sale of Campbell Soup at this time is unlikely to maximize fair value. Baumgartner reiterates a Market Perform rating on the shares.

  • 30

    Aug

CPB Campbell Soup
$42.04

0.02 (0.05%)

08/10/18
JPMS
08/10/18
DOWNGRADE
Target $36
JPMS
Underweight
JPMorgan downgrades Campbell Soup to Underweight, says sale unlikely
JPMorgan analyst Ken Goldman downgraded Campbell Soup to Underweight from Neutral with an unchanged price target of $36. The analyst agrees with activist Third Point that Campbell's best option is to sell the company. However, he sees a sale as an unlikely outcome. And if a sale does take place, Goldman wonders how much of a premium a suitor is willing to pay. If a sale does not happen, Campbell shares have "meaningful downside" given the company's "shaky fundamentals and a levered balance sheet," Goldman tells investors in a research note. The analyst thinks the stock is worth $36, which includes a 20% chance that Campbell is bought for a 10% premium. The soup maker closed yesterday up 29c to $42.28.
08/10/18
08/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. 2. Booking Holdings (BKNG) downgraded to Neutral from Buy at Citi and UBS as well as Neutral from Overweight at JPMorgan. 3. Sysco (SYY) downgraded to Sell from Hold at Pivotal Research with analyst Ajay Jain saying he believes the move up in the stock over the past three months is inconsistent with growing industry headwinds as well as Sysco's company-specific issues. 4. Campbell Soup (CPB) downgraded to Underweight from Neutral at JPMorgan with analyst Ken Goldman saying he agrees with activist Third Point that Campbell's best option is to sell the company; however, he sees a sale as an unlikely outcome. 5. Redfin (RDFN) downgraded to Neutral from Buy at DA Davidson with analyst Tom White citing its Q2 results and below-consensus Q3 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/18
08/10/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. GOLDMAN CUTS INTEL, UPGRADES AMD: Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral and lowered his price target for the shares to $44 from $49. Hari coupled the downgrade with an upgrade of AMD (AMD) to Neutral from Sell. Intel's struggles with 10nm process technology made the analyst incrementally more negative on the company's competitive positioning and margin outlook. He expects a worsening product mix in the near-term, ramp in 10nm costs and growing depreciation to drive margin pressure and Intel's earnings below consensus expectations. The delay in Intel's new products will allow AMD to gain share in not only client computer processing units, and also in the "lucrative" server CPU market, Hari contended. He believes this makes for a balanced risk/reward profile on AMD shares. In late morning trading, Intel is down 2.5% and AMD is up fractionally. BOOKING HOLDINGS DOWNGRADED AT MULTIPLE FIRMS: UBS analyst Eric Sheridan downgraded Booking Holdings (BKNG) to Neutral from Buy and lowered his price target for the shares to $2,060 from $2,320 following the company's Q2 results. JPMorgan analyst Doug Anmuth downgraded Booking Holdings to Neutral from Overweight and lowered his price target for the shares to $2,070 from $2,385. Additionally, Citi analyst Mark May downgraded Booking Holdings to Neutral from Buy and lowered his price target for the shares to $2,150 from $2,350. Booking Holding is down over 2% in late morning trading. JPMORGAN CUTS CAMPBELL SOUP TO UNDERWEIGHT: JPMorgan analyst Ken Goldman downgraded Campbell Soup (CPB) to Underweight from Neutral with a $36 price target, saying he believes a sale of the company at a significant premium is unlikely. Campbell Soup is down over 2% in late morning trading. CANTOR SEES MANY REASONS FOR UNITEDHEALTH ACQUIRING ATHENAHEALTH: Numerous media sources cited a Dealreporter story indicating that UnitedHealth (UNH) is now in the second round of bidding for Athenahealth (ATHN), Cantor Fitzgerald analyst Steven Halper said in a research note. There are "many reasons" why UnitedHealth's Optum would benefit from the acquisition of Athenahealth, the analyst contended. With or without the deal, the analyst expects UnitedHealth will deploy capital and grow its various Optum businesses over time. He reiterated an Overweight rating on shares with a $300 price target.
08/14/18
PIPR
08/14/18
NO CHANGE
Target $35
PIPR
Underweight
Piper views sale of Campbell Soup as unlikely
Piper Jaffray analyst Michael Lavery does not expect a sale of Campbell Soup (CPB) to be part of its strategic update. Rather, the analyst thinks the company will focus on how it can turn around its business. He believes spending increases are needed and that a C-Fresh divestiture is likely, but with only modest proceeds. He thinks Kraft Heinz (KHC), viewed as a potential bidder if Campbell Soup were for sale, "prefers brands with stronger equity and market share positions and may not be interested." Lavery lowered his price target for Campbell shares to $35 from $36 and keeps an Underweight rating on the name.

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