Campbell Soup Rao's Brand Growth Strong And US Sales Trend Improving, Analyst Upgrades Stock
CPBCampbell Soup(CPB) Benzinga·2024-11-15 03:20

Piper Sandler analyst Michael S. Lavery upgraded Campbell Soup Company CPB to Overweight from Neutral, raising the price forecast from $47 to $56.The analyst upgraded Campbell Soup due to improved long-term growth prospects from its Rao’s brand and better sales trends in the U.S. (excluding SOVO brands).Despite better trends, the stock has had a 15% pullback since mid-September. The analyst sees this as a good buying opportunity.Lower steel costs (down 25%) and secured contracts for 2025 further support gro ...