Piper Sandler analyst Michael Lavery raised the firm’s price target on Campbell Soup to $55 from $46 and keeps a Neutral rating on the shares. Broad inflationary pressure continued to weigh on Campbell in fiscal Q1, and it is now taking some additional, targeted pricing, Lavery tells investors in a research note. The analyst says the company’s fiscal 2023 operating outlook looks achievable, especially given its strong pricing momentum and modest elasticities.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CPB:
- Campbell Soup CEO: The supply chain is now a ‘real strength’
- Early notable gainers among liquid option names on December 7th
- Campbell Soup raises FY23 adjusted EPS view to $2.90-$3.00 from $2.85-$2.95
- Campbell Soup reports Q1 adjusted EPS $1.02, consensus 88c
- Notable companies reporting before tomorrow’s open
