Wells Fargo analyst Chris Carey lowered the firm’s price target on Campbell’s (CPB) to $45 from $51 and keeps an Equal Weight rating on the shares. The stock had a “tough day” after the company reported a “softer” Q1 and announced that its CEO Clouse was leaving the industry, the analyst tells investors in a research note. Campbell’s had laid out “bold” long-term targets in September, and given the soft Q1, the management also offered commentary suggesting the company needs improvement in Q2 to hit the FY25 guide, the firm adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CPB:
- Campbell’s price target lowered to $47 from $50 at Stifel
- Salesforce up after Q3, GM outlines $5B in China business charges: Morning Buzz
- Morning Movers: Salesforce jumps after Q3, Foot Locker sinks after guidance cut
- Campbell’s sees 2H organic growth modestly improving from 1H
- Campbell’s sees Q2 adjusted EPS in low 70s range, consensus 82c
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
