Goldman Sachs lowered the firm’s price target on Campbell Soup to $40 from $44 and keeps a Sell rating on the shares. The company’s upcoming Q4 results will likely come in modestly ahead of consensus on slightly better organic sales growth and gross margin, but the management’s outlook is likely to call for little, if any, earnings growth next year, the analyst tells investors in a research note. Consensus sales and earnings estimates for next year both appear “too optimistic”, Goldman Sachs added.
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