DA Davidson lowered the firm’s price target on Campbell’s (CPB) to $39 from $46 and keeps a Neutral rating on the shares. The company’s Meals & Beverages have been bolstered by the addition of Rao’s and saw some stabilization within soup, but its Snacks business remains pressured and the management seemed to acknowledge a further pushout of its 17.0% operating margin target, the analyst tells investors in a research note.
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