Campbell’s price target lowered to $29 from $30 at BofA

BofA lowered the firm’s price target on Campbell’s (CPB) to $29 from $30 and keeps an Underperform rating on the shares after the firm updated its estimates to reflect quarter-to-date Nielsen scanner trends through the period ended December 27. Based on these trends, the firm cut its Q2 organic sales assumptions to up 2% from up 3% for Meals & Beverages and down 4.5% from down 2% for Snacks, the analyst noted.