Jefferies analyst Rob Dickerson lowered the firm’s price target on Campbell Soup to $46 from $49 and keeps a Hold rating on the shares. Ahead of Campbell’s Q4 report, the firm tells investors that Snacks tracked-channel trends “look impressive,” while Meals & Beverages “remains more challenged.” The latter segment’s volumes are now the risk as private label is still pressuring soup, leading to a potential need to step-up promos, the analyst added in an earnings preview note.
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