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JPMorgan Downgrades Campbell Soup to “Underweight” (CPB)

By Dividend.com,  January 17, 2012, 09:16:50 AM EDT

Packaged foods maker Campbell Soup Company ( CPB ) on Tuesday caught a big downgrade from analysts at JPMorgan.

The firm said it cut its rating CPB from "Neutral" to "Underweight" while lowering its price target from $35 to $30. That new target suggests a 7.6% downside to the stock's Friday closing price of $32.48.

Campbell Soup shares, which have lost around 7% of their value in the past year, posted small losses in premarket trading Tuesday.

The Bottom Line
Shares of Campbell Soup ( CPB ) have a 3.57% dividend yield, based on Friday's closing stock price of $32.48. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $33-$34 price levels.

Campbell Soup Company ( CPB ) is not recommended at this time, holding a Dividend.com 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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CPB



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