Campbell upgraded to Outperform from Market Perform at Bernstein

Bernstein analyst Alexia Howard upgraded Campbell to Outperform from Market Perform with a price target of $58, up from $55. The firm believes the soup and broth categories could benefit from higher weight loss drug usage. Branded GLP-1 drugs from Novo Nordisk and Eli Lilly suggest that only 1.4% of U.S. adults are currently taking them, but both types of drug have been designated by the FDA as “in short supply” since 2022, the analyst tells investors in a research note. Bernstein says this opens the door for compounding pharmacies across the U.S. to prescribe and sell essentially identical versions of these drugs to patients either through brick and mortar pharmacies or via tele-health platforms.