UPDATE: RBC Capital Downgrades Campbell Soup (CPB) to Sector Perform

March 28, 2022 3:13 AM EDT
Get Alerts CPB Hot Sheet
Price: $48.60 -1.18%

Rating Summary:
    0 Buy, 15 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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(Updated - March 28, 2022 4:25 AM EDT)

RBC Capital analyst Nik Modi downgraded Campbell Soup (NYSE: CPB) from Outperform to Sector Perform with a price target of $46.00 (from $47.00).

The analyst comments "YTD, CPB shares have outperformed the market by ~6 points, the XLP by ~5 points, and the rest of our food coverage by ~8 points. CPB now trades about in-line with packaged food peers (or ~7% above peers excluding higher-growth MDLZ). Given what we see as a more fair valuation, rising inflation and our preference for names exposed to improved mobility, we believe a Sector Perform rating is more appropriate."

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 $44.53 yesterday.

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