Piper Sandler upgraded Campbell (CPB) to Overweight from Neutral with a price target of $56, up from $47. The firm is citing better long-term growth expectations with the company’s Rao’s brand, as well as its improving U.S. retail sales and volume trends, the analyst tells investors in a research note. The stock’s 15% pull-back since mid-September also presents a good buying opportunity as Piper views Campbell as “one of the better-positioned large-cap food names”.
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