Campbell’s downgraded to Neutral at Piper Sandler on snack pressures

As previously reported, Piper Sandler downgraded Campbell’s (CPB) to Neutral from Overweight with a price target of $34, down from $35. Snacks momentum remains pressured, which is likely to persist in FY26, the analyst tells investors. The firm lowered its FY26 EPS forecast to $2.39 from $2.53, citing snack category pressure and higher EU tariffs on Rao’s sauces.