Campbell Soup Company Receives ‘Neutral’ Outlook (CPB)

Campbell Soup Company CPB expects its EPS growth and product volume to be the main driver for its success in the long term. The company is likely to focus on these points during its investors day on July 12. According to a report released by Bank of America Merrill Lynch, Campbell Soup Company (CPB) may raised its EPS growth rate target by 1-2 points above the current rate of 5% to 7% due to non-operating leverage. The company has been given a ‘neutral’ outlook with a price target of $37. The said that the price target is based on 14.4x of CY10E EPS of $2.57, a 2.4% discount to the packaged food group.