RBC Capital analyst Nik Modi reiterated a Sector Perform rating and $23.00 price target on The Campbell's Co. (NASDAQ: CPB).

The analyst commented: "Still Moving in the Wrong Direction; We are ~in line with consensus for CPB in F3Q, which assumes no immediate relief from ongoing demand pressures. On the contrary, we see indication that things could be moving in the opposite direction as the company struggles to improve volume and share performance. As has been the case for some time now, we are more cautious on Snacks where CPB faces greater competitive pressure and consumer pullback. That said, we also see signs of likely deterioration in M&B."

For an analyst ratings summary and ratings history on The Campbell's Co. click here. For more ratings news on The Campbell's Co. click here.

Shares of The Campbell's Co. closed at $20.99 yesterday.