Campbell Soup’s Q4 to refect continued Snacks headwinds, says RBC Capital

RBC Capital keeps a Sector Perform rating and $47 price target on Campbell Soup ahead of the company’s Q4 results this week. The quarter is expected to reflect a continuation of Q3’s headwinds that negatively impacted Snacks, though investors will likely be more focused on FY25 and looking for the management to justify the stock’s recent outperformance with a positive outlook, the analyst tells investors in a research note. RBC adds that it remains cautious on the space but views Campbell’s Sovos Brands portfolio as an important piece of the company’s go-forward growth story.