Campbell’s price target lowered to $46 from $49 at Barclays

Barclays lowered the firm’s price target on Campbell’s (CPB) to $46 from $49 and keeps an Underweight rating on the shares. The company plans to “lean in a bit more” on promotion, namely in fiscal Q2, to better combat new entrants in snacks and support the holiday season but has greater productivity capture, Rao’s over-delivery, and fewer interest expenses as offsets, the analyst tells investors in a research note.