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Goldman Sachs Removes Campbell from Conviction Buy List (CPB)

By
January 11th, 2013

Goldman Sachs Removes Campbell from Conviction Buy List (CPB)

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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 Dividend.com 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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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.