Goldman Sachs Removes Campbell from Conviction Buy List (CPB)

Goldman Sachs Removes Campbell from Conviction Buy List (CPB)


Goldman Sachs reported on Friday that they have removed packaged food products producer, Campbell Soup Company(CPB) from their Conviction Buy List.

The firm has removed CPB from their Conviction Buy List due to a decline in the company’s previously expected turnaround. Goldman Sachs currently has a $40 price target on the company, suggesting a 11% upside from the current price of $35.31

Campbell shares were mostly flat during premarket trading Friday. The stock has increased 12% in the past year.

The Bottom Line
Shares of Campbell Soup (CPB) have a 3.29% dividend yield, based on last night’s closing stock price of $35.31. The stock has technical support in the $33-$34 price area. If the shares can firm up, we see overhead resistance around the $37-$38 price levels.

Campbell Soup Company(CPB) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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