Campbell Soup maintains outlook for fiscal 2009 adjusted profit growth above target

Campbell Soup officials expect to surpass their long-range earnings growth target this year despite a down economy & continued investment in its fledgling businesses in China & Russia. The Camden-based co. said its fiscal 2009 adjusted profit growth will be above the 5% to 7% target. Given the $2.09 a share in profit recorded by the food company in fiscal 2008, its target would imply income of $2.19 to $2.24 per share in 2009. On average, analysts Thomson polled predict profit of $2.17 a share. Analysts' estimates normally exclude 1x items. Campbell, whose brands include its namesake canned soup, Pepperidge Farm cookies & V8 juice, also foresees revenue rising 3% to 4%, excluding the effect of divestitures & 1 less wk in the period. With