Deutsche Bank Reiterates Hold on Campbell Soup Company Following F3Q13 Earnings Preview

In a report published Wednesday, Deutsche Bank analyst Eric Katzman reiterated a Hold rating and $46.00 price target on Campbell Soup Company CPB. In the report, Katzman noted, “A stabilizing soup business supported by better Nielsen data helps explain the stock's outperformance of late. While Campbell's valuation (18.3x C2013E P/E vs. 19.2x group avg) remains low vs. peers, we believe this is still reasonable given the ongoing soup turnaround, limited EM exposure, and questions around non-soup trends. Campbell Soup reports F3Q13 (end Apr) results on Mon., Feb 20th. We expect opr. EPS of $0.56 (in line with cons.), with sales up 11% (incl. +10% acq) and EBIT up 6-7%. Senior mgmt will host a conf. call at 10:00 am EST.” Campbell Soup Company closed on Tuesday at $47.64.