Morgan Stanley analyst Pamela Kaufman raised the firm’s price target on Campbell Soup to $56 from $48 and keeps an Equal Weight rating on the shares after the company reported a "large" organic sales and EPS beat, driven by "strong" pricing, "modest" elasticity and better supply chain conditions. While stating that Campbell is "executing well in a challenging operating environment," Kaufman is cautious on its ability to drive further near-term pricing growth and sees ongoing trade down risk.
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