) in a report released yesterday. In the report, Goldman was negative in its assessment of the company. Goldman writes, "We are raising our FY11 estimate to $2.45, from $2.40, to reflect the 3QFY11 beat. Our FY12 estimate, however, falls to $2.25, from $2.47, due primarily to an expected step-up in marketing and selling expense. Our FY13 estimate goes to $2.43, from $2.55, on the lower base. Campbell's underlying performance in 3Q11 illuminates many of the challenges facing its new CEO. Sales of the firm's core soup business continue to decline and the weakness has now spread to its beverage and sauce line. The firm has delivered EBIT growth mostly through reductions in demand generation investment (symptomatic with a classic “Binge”). In order to put Campbell back on the profitable growth track, we believe management will need to first step up investment (a “Purge”). This investment may prove substantial and is likely coming at a time when its input cost pressure is escalating, further posing earnings risk in FY12. Moreover, while sales growth may accelerate next year, stock prices could still languish as out-year acceleration off of a lower base may not be clear given persistent weakness in the soup category." Goldman Sachs currently has a Sell rating on Campbell Soup and a price target of $32. Shares of Campbell Soup closed on Tuesday at $35.20, up $0.30 from the opening bell.