Campbell Soup: takes over Pacific Foods.
(CercleFinance.com) - On Thursday evening Campbell Soup announced an agreement to take over organic food company Pacific Foods, for 700 million dollars, a price representing 3.
2x the acquired company's sales.
Credit Suisse said that this acquisition makes sense, but a high price has been paid and the target has low margins. The broker hence confirmed its "underperform" rating on Campbell Soup and reduced its target price from 53 dollars to 50 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
2x the acquired company's sales.
Credit Suisse said that this acquisition makes sense, but a high price has been paid and the target has low margins. The broker hence confirmed its "underperform" rating on Campbell Soup and reduced its target price from 53 dollars to 50 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.