Campbell Soup Rao’s Brand Growth Strong And US Sales Trend Improving, Analyst Upgrades Stock
1
0
Piper Sandler analyst Michael S. Lavery upgraded Campbell Soup Company (NASDAQ:CPB) to Overweight from Neutral, raising the price forecast from $47 to $56.
The analyst upgraded Campbell Soup due to improved long-term growth prospects from its Rao’s brand and better sales trends in the U.S. (excluding SOVO brands).
Despite better trends, the stock has had a 15% pullback since mid-September. The analyst sees this as a good buying opportunity.
Lower steel costs (down 25%) and secured contracts for 2025 further support growth.
The analyst raised 2025 and 2026 earnings per share (EPS) estimates slightly, from $3.20 to $3.21 and $3.37 to $3.38, respectively.
Per …
Full story available on Benzinga.com
Visited 1 times, 1 visit(s) today