Argus looking for more favorable entry point on Campbell Soup

Argus keeps a Hold rating on Campbell Soup with no price target but notes that the firm is looking for a “more favorable entry point” on the stock. The company has struggled to maintain margins amid declining volume as inflation-pressured consumers have been more cautious on spending while trading down to less expensive private-label products, though on the positive side, the firm has a favorable view of Campbell’s Sovos acquisition and its potential to strengthen the Meals & Beverages segment, the analyst tells investors in a research note.