Goldman Sachs Comments On CPB Management Neeting

Goldman Sachs hosted a meeting with incoming Campbell Soup Co. CPB CEO Denise Morrison and her new management team in Camden, NJ, on Wednesday. “We came away with a better understanding of the direction it is taking to pursue growth and the trajectory of its input cost, pricing, and investment posture,” Goldman Sachs writes. “We see risk to FY12 EPS as new management focuses on stabilizing, then profitably growing the US soup business in an accelerating inflationary environment,” Goldman Sachs writes. “We view the stepped-up focus on innovation as the right direction for CPB long term, but it remains unclear how quickly these efforts can bear fruit and the cost to achieve new goals.” Campbell Soup closed Wednesday at $33.27.