RBC Capital lowered the firm’s price target on Campbell’s (CPB) to $38 from $44 and keeps a Sector Perform rating on the shares. The company reported mixed Q3 results, as worsening consumer sentiment had an opposite effect on the company’s two divisions, with Meals & Beverages segment continuing to benefit from consumers eating more meals at home, while Snacks remained under pressure due to increased competition and more intentional consumer spend, the analyst tells investors in a research note. Campbell’s now expects lighter profitability for the full year given lack of material recovery in Snacks, while tariffs look set to add additional pressure in Q4 and beyond, RBC added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPB:
- Campbell’s price target lowered to $35 from $39 at Deutsche Bank
- Campbell Soup’s Market Challenges and Valuation: A Hold Recommendation
- Campbell’s price target lowered to $35 from $40 at Morgan Stanley
- Campbell’s price target lowered to $38 from $40 at Stifel
- Campbell’s price target lowered to $35 from $40 at Barclays
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue