Campbell Soup’s Price Target Cut at Deutsche Bank (CPB)


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Packaged foods maker Campbell Soup Company ( CPB ) on Wednesday saw its price target lowered by analysts at Deutsche Bank.

The firm maintained its "Hold" rating on CPB but cut its price target from $33 to $32, suggesting a nearly nil upside to the stock's Tuesday closing price of $31.84.

A Deutsche Bank analyst commented, "With US and Intl soup still struggling, investors were displeased to see that are now under pressure. Despite a 7% FCF yield, solid balance sheet and low valuation, investors are clearly concerned about how long a turnaround will take and the impact on EPS during the interim. We agree and thus retain our HOLD opinion."

Campbell Soup shares were unchanged in premarket trading Wednesday.

The Bottom Line
Shares of Campbell Soup ( CPB ) have a 3.64% dividend yield, based on last night's closing stock price of $31.84. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

Campbell Soup Company ( CPB ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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