UPDATE: Jefferies Downgrades Campbell Soup (CPB) to Hold, Upside More Challenging from Here
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Jefferies analyst Rob Dickerson downgraded Campbell Soup (NYSE: CPB) from Buy to Hold with a price target of $54.00.
The analyst commented, "With elevated at-home HH penetration sustainability a risk, away-from-home exposure lower vs. peers, and brand investment/promotional needs potentially more probable (due to LTM share shifts) amidst an inflating cost environment, we find upward revisions more challenging from here and the risk/reward more balanced. We downgrade our rating from Buy to Hold; our $54 PT remains unchanged."
Shares of Campbell Soup closed at $48.87 yesterday.
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