J.P. Morgan Reiterates Neutral Rating On Campbell Soup Company

According to J.P. Morgan, Campbell Soup Company CPB will host its investor day Tuesday, July 12, at its Camden, N.J., headquarters. J.P. Morgan said that it no longer believe a sharpening of price points in the sluggish soup business is likely. “Instead, we believe incoming CEO Denise Morrison will focus on innovation and stronger consumer marketing, a time-honored strategy but in this case one that carries several notable risks. We remain cautious and reiterate our Neutral rating.” Campbell Soup Company closed yesterday at $34.59.