Campbell’s price target lowered to $40 from $46 at Barclays

Barclays lowered the firm’s price target on Campbell’s (CPB) to $40 from $46 and keeps an Underweight rating on the shares. The firm notes that the company now sees a more muted second half of 2025 as recovery in snacking categories is taking longer than expected with the midpoint of the new outlook embedding a stabilization in Campbell’s Snacks business. While competitive activity in salty snacks has continued, Campbell’s is now also seeing a step up in activity in the cookies and crackers space, Barclays adds. The firm further points out that Campbell’s has the benefit of some differentiated brands such as Pepperidge Farm and Goldfish, but recent Goldfish trends have slowed considerably.