Campbell’s price target lowered to $20 from $25 at Stifel

Stifel analyst Matthew Smith lowered the firm’s price target on Campbell’s (CPB) to $20 from $25 and keeps a Hold rating on the shares. Food group earnings remain under pressure, primarily reflecting weak volume growth, reinvestment requirements pressuring margins, and slower sales growth potential even after reinvestment is lapped, the analyst tells investors in a preview for the group.