DA Davidson Starts Campbell Soup (CPB) at Buy, 'Constructive on Souped Up Portfolio'

DA Davidson analyst Brian Holland initiates coverage on Campbell Soup (NYSE: CPB) with a Buy rating and a price target of $48.00.

The analyst comments "We are initiating coverage of CPB with a BUY rating. Easier volume compares as the company laps the effects of pantry de stocking, as well as moderating core inflation, are supportive of a 2H24 (Jul) inflection. Longer term, margins should benefit from targeted initiatives to streamline CPB Snacks segment. Moreover, we believe the company is effectively positioned to continue stewardship of the recently acquired Rao's brand (pending FTC approval), one of—if not the most —attractive assets in center store Food. A challenging industry backdrop presents near term overhang, though we believe valuation offers support."

For an analyst ratings summary and ratings history on Campbell Soup click here. For more ratings news on Campbell Soup click here.

Shares of Campbell Soup closed at $42.15 yesterday.

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