Deutsche Bank Reports on Campbell Soup

Deutsche Bank commented on Campbell Soup CPB in a report released yesterday. In the report, Deutsche Bank was mixed in its outlook for the soup maker. Deutsche Bank writes, “We retain our Hold opinion and wait for F2012 along with updated goals. But with a solid BS/FCF, the stock's underperformance YTD and our view that a large EPS rebase isn't likely, we don't see much downside risk. As with the rest of the industry, we expect investors to focus on top line performance. Core U.S. soup trends will be of interest, along with updates on the inflationary outlook. Finally, investors will be interested in strategy changes the company is willing to discuss prior to the July investor meeting.” Deutsche Bank currently has a Hold rating on Campbell Soup Company and a price target of $33. Shares of CPB closed yesterday at $35.28, up from $35.07 at the opening bell.