Campbell’s price target lowered to $38 from $40 at Stifel

Stifel lowered the firm’s price target on Campbell’s (CPB) to $38 from $40 and keeps a Hold rating on the shares. Campbell reported a better than expected third quarter as Meals and Beverages continues to perform well, including market share gains in the soup portfolio, but the recovery in Snacks is taking longer than expected, the analyst tells investors. Following the report, the firm is lowering its FY25 and FY26 EPS estimates primarily to reflect the slower recovery in Snacks and the impact of tariffs.