Campbell Soup Co logo

CPB - Campbell Soup Co News Story

$49.82 0.1  0.2%

Last Trade - 3:55pm

Sector
Consumer Defensives
Size
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%
    Soup                                         
  Conagra      CAG.N        $41         $31        22.2%
   Brands                                        
 McCormick     MKC.N        $167        $110        -3%
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.