Campbell Soup price target raised to $42 from $41 at Citi

Citi raised the firm’s price target on Campbell Soup to $42 from $41 and keeps a Sell rating on the shares ahead of its Q3 results. The firm warns that a guidance cut seems likely for organic sales growth and EPS, though this would probably “not be a big surprise” considering consensus estimates for both of these items are already below the management’s guidance ranges. Citi adds however that its FY24 EPS view remains at $3.03 and its FY25 view remains at $3.15, with reduced assumed non-cash expenses related to Sovos.