Stifel analyst Matthew Smith lowered the firm’s price target on Campbell’s (CPB) to $47 from $50 and keeps a Hold rating on the shares after its Q1 results. The company’s EPS declined 2.5% from last year and its organic sales were down 1% in the quarter, slightly trailing expectations in part due to inventory phasing due to the later Thanksgiving holiday, the analyst tells investors in a research note. Campbell’s also expects flat organic sales in Q2, including a step-up in promotional activity in the Snacks division that requires a stronger volume response, Stifel adds.
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- Campbell’s sees 2H organic growth modestly improving from 1H
- Campbell’s sees Q2 adjusted EPS in low 70s range, consensus 82c
- Campbell’s expects stronger operating earnings growth, margin in 2H
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
