Campbell Soup price target lowered to $50 from $52 at Piper Sandler

Piper Sandler lowered the firm’s price target on Campbell Soup to $50 from $52 and keeps a Neutral rating on the shares. Since elevated Supplemental Nutrition Assistance Program payments ended, U.S. measured retail sales gains slowed from a steady 10% monthly average to 5% in May, the analyst tells investors in a research note. The firm says Campbell’s gains slowed from 13% in November and December to 5%-6% in the last two months. It reduced estimates on softer sales expectations.