Piper Sandler analyst Michael Lavery reiterated a Neutral rating and $47.00 price target on Campbell Soup (NASDAQ: CPB).

The analyst commented, "Our latest Teens Survey (~13,500 teens) gives us color on teen snacking trends and how different companies in our food coverage are positioned. CPB's Goldfish brand is still the top preferred brand in our Spring 2024 survey for the seventh consecutive survey, with Lays and Cheez-It next. Goldfish appears to over-index with teens, which could be a leading indicator of future market share gains. Teens also report strongest net intentions to eat more Clif Bar, which could drive better momentum for Mondelez. On a total company level, PEP had the biggest lift in brand mentions as a teen favorite, up 230bps vs. its average over our last three teen surveys, followed by Grupo Bimbo (up 125bps)."

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Shares of Campbell Soup closed at $47.57 yesterday.