Wells Fargo analyst Chris Carey lowered the firm’s price target on Campbell’s (CPB) to $30 from $31 and keeps an Equal Weight rating on the shares. The firm notes the stock was down (5.2%) vs XLP up 0.2% on Tuesday. While top line came in better, some timing benefits reversed in Q2. Meanwhile, margins underwhelmed. The combination makes it tough to embrace Campbell’s into a second half of the year where some improvement is embedded.
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