Citi analyst Thomas Palmer lowered the firm’s price target on Campbell’s (CPB) to $41 from $44 and keeps a Sell rating on the shares. The stock were dropped following Campbell’s announced CEO departure, a Q1 miss, and a Q2 earnings outlook that was below the consensus estimate, the analyst tells investors in a research note. The firm says the company’s’ fiscal 2025 earnings outlook is increasingly second half-weighted, and competitive pressures seem to be worse than previously anticipated. It sees risk to Campbell’s outlook and notes the shares still trade at a premium to several peers.
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