RBC Capital analyst Nik Modi keeps a Sector Perform rating and $51 price target on Campbell’s Company (CPB) ahead of its Q1 results. The company’s rosy perception of the macros and their categories may prove overly optimistic, which could lead to downward guidance revisions as the year progresses, the analyst tells investors in a research note. Consumer trends like value-seeking and shift to meals at-home should provide some benefit to the Meals & Beverages segment, but RBC is remaining cautious on heightened competition and lack of visibility affecting the broader packaged food industry, the firm added.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPB:
- CPB Earnings this Week: How Will it Perform?
- The Campbell’s Company price target lowered to $46 from $52 at Jefferies
- Shareholders approve change in company name to The Campbell’s Company
- Buy/Sell: Wall Street’s top 10 stock calls this week
- TD says RFK nomination ‘more unwelcome uncertainty’ for processed foods