RBC Capital lowered the firm’s price target on Campbell’s (CPB) to $26 from $30 and keeps a Sector Perform rating on the shares. Despite muted expectations, the company posted a tough quarter, characterized by ongoing top line and margin softness and Snacking segment underperformance, the analyst tells investors in a research note. Persistent topline softness, fresh baked challenges and mounting pricing pressure from competition dampen the company’s earnings outlook, RBC adds.
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