Campbell’s price target lowered to $45 from $46 at BofA

BofA lowered the firm’s price target on Campbell’s (CPB) to $45 from $46 and keeps an Underperform rating on the shares after the company reported fiscal Q1 EPS ahead of the Street view and announced a CEO transition. The adjusted EPS beat was “overshadowed” by an organic sales and gross margin miss, says the analyst, who lowered the firm’s FY25 adjusted EPS forecast to $3.15 from $3.16 as lower interest expense is offset by higher SG&A and share count.