Stifel analyst Matthew Smith lowered the firm’s price target on Campbell’s (CPB) to $47 from $50 and keeps a Hold rating on the shares after its Q1 results. The company’s EPS declined 2.5% from last year and its organic sales were down 1% in the quarter, slightly trailing expectations in part due to inventory phasing due to the later Thanksgiving holiday, the analyst tells investors in a research note. Campbell’s also expects flat organic sales in Q2, including a step-up in promotional activity in the Snacks division that requires a stronger volume response, Stifel adds.
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