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Invest in Soup
Want an idea of what the recession diet is going to look like? Campbell Soup Company’s recent successes offer an indication. Campbell’s has led the S&P Packaged Foods Index over the past three months, and its 1.5 percent gain this year outperforms the S&P 500 by 44 points. An analyst for Bloomberg gives Campbell’s shares a 12-month target price of $44.50, 23 percent higher than today’s $36.27. One analyst predicts 2009 will be “the year of condensed soup, driven by the backdrop of severe economic pressure on the consumer.” Campbell’s, which is 129 years old, has survived 28 recessions.
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