RBC Capital analyst Nik Modi lowered the firm’s price target on Campbell’s (CPB) to $44 from $51 and keeps a Sector Perform rating on the shares after its Q2 results and guidance cut. The company had faced a challenging environment in the quarter, particularly in Snacks, which caused results to fall short of Street estimates and yielded a full year guidance cut that was “necessary/inevitable”, the analyst tells investors in a research note. Campbell’s should now be able to focus on improving performance, though macro/consumer headwinds are currently proving formidable, RBC adds.
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Read More on CPB:
- Campbell’s price target lowered to $37 from $39 at Citi
- Campbell Soup Faces Challenges: Hold Rating Amid Declining Sales and Competitive Pressures
- Campbell’s price target lowered to $40 from $43 at Wells Fargo
- Campbell’s price target lowered to $41 from $45 at BofA
- Campbell Soup Faces Financial Challenges Amid Disappointing Earnings and Segment Struggles
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