DA Davidson raised the firm’s price target on Campbell Soup to $49 from $47 and keeps a Buy rating on the shares after its Q3 results. The firm is “disappointed” by the company’s slower than expected progress on both Snacks margins and top line inflection, though it is also encouraged by corrective action that includes supply chain optimization and improved pro forma volume consumption trends, the analyst tells investors in a research note. Campbell Soup’s September’s Investor Day could prove a catalyst, assuming a more supportive consumer backdrop is in place, the firm added.
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