Campbell Soup price target raised to $41 from $40 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Campbell Soup to $41 from $40 but keeps a Sell rating on the shares after its Q4 results and guidance. The company’s outlook is predicated on sustained momentum in its snack portfolio which has been strong of late and a return to volume growth in soup, which has been weak for a very long time, the analyst tells investors in a research note. While the snack food expectations are reasonable and likely achievable, the management’s expectations for its soup portfolio and broader Meals & Beverages portfolio are “likely optimistic”, the firm adds.