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CPB - Campbell Soup Co News Story

$49.82 0.1  0.2%

Last Trade - 3:55pm

Consumer Defensives
Large Cap
Market Cap £11.46bn
Enterprise Value £15.63bn
Revenue £5.77bn
Position in Universe 566th / 6368

BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades

Mon 22nd June, 2020 12:54pm
** Analysts at Jefferies upgrade Campbell Soup  CPB.N  and
Conagra Brands  CAG.N  to "buy" and McCormick  MKC.N  to "hold"
    ** Revenue growth will remain elevated longer than expected
for packaged food makers given potential macroeconomic
pressures, an unknown new-normal restaurant experience, and the
savings from eating more food at home - brokerage 
    ** About 80% of respondents of a Jefferies survey expect to
eat the same or more at home post-COVID-19 as they did during
the crisis once stay-at-home orders have been lifted 
    ** Soup category turnaround at CPB has gone overnight from
"show-me story" to an opportunity to capitalize on current
demand - Jefferies 
    ** Rising demand for meal-cooking ingredients and baking
products to insulate MKC from headwinds due to its high
international and food service exposure - analysts
    ** CAG has seen outsized demand for frozen meals and
vegetables, baking and condiments and it is more probable that
management can achieve FY22 targets - brokerage
    Name        RIC      Current PT   Prior PT   Upside to
                                                 last close
  Campbell     CPB.N        $59         $53        20.1%
  Conagra      CAG.N        $41         $31        22.2%
 McCormick     MKC.N        $167        $110        -3%
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