Wells Fargo analyst Chris Carey lowered the firm’s price target on Campbell’s (CPB) to $45 from $51 and keeps an Equal Weight rating on the shares. The stock had a “tough day” after the company reported a “softer” Q1 and announced that its CEO Clouse was leaving the industry, the analyst tells investors in a research note. Campbell’s had laid out “bold” long-term targets in September, and given the soft Q1, the management also offered commentary suggesting the company needs improvement in Q2 to hit the FY25 guide, the firm adds.
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