Campbell Soup’s “Buy” Rating Reaffirmed at ING (CPB)
Campbell Soup (NYSE:CPB)‘s stock had its “buy” rating restated by equities research analysts at ING in a research note issued to investors on Friday, Analyst Ratings News reports.
The analysts wrote, “Next week is a big week for earnings, especially in the retail sector, Jim Cramer said on Mad Money Friday. With overall market negativity continuing, that means there are a lot of opportunities being created.
That’s why on Monday Cramer said he’ll be watching Campbell’s Soup (CPB), a stock he’d buy when it yields over 3%, and Urban Outfitters (URBN), a stock he said is not done going lower.
For Tuesday Cramer said he’d be a buyer of Home Depot (HD), TJX Stores (TJX) and Dick’s Sporting Goods (DKS) when they report. He even expects a bounce from Staples (SPLS), a stock he’s disliked forever. However, the most important earnings of the quarter will come from Salesforce.com (CRM), Cramer said. If that stock does well and rallies, then other momentum names will likely follow.”
Shares of Campbell Soup (NYSE:CPB) traded up 0.20% on Friday, hitting $45.12. 1,319,508 shares of the company’s stock traded hands. Campbell Soup has a 52-week low of $38.30 and a 52-week high of $48.83. The stock has a 50-day moving average of $44.9 and a 200-day moving average of $42.8. The company has a market cap of $14.156 billion and a P/E ratio of 27.52.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Campbell Soup in a research note on Thursday. They now have a $42.00 price target on the stock, up previously from $41.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $37.00 to $39.00 in a research note on Monday, April 28th. They now have an “underweight” rating on the stock. Finally, analysts at Zacks upgraded shares of Campbell Soup from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 13th. They now have a $46.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.33.
Campbell Soup Company (NYSE:CPB), together with its subsidiaries, is a manufacturer and marketer of branded convenience food products.
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