Campbell's (CPB) weak snacking business will likely weigh on its fiscal Q3 results, RBC Capital Markets said in a Wednesday note.
"We are cautious on CPB going into F3Q earnings as packaged
food earnings have generally been soft, particularly in snacking," RBC analysts said. The results are due on June 2.
They also said that their channel work and scanner data currently do not support the firm's fiscal 2025 top-line guidance for organic growth to improve sequentially in H2.
"We think another cut may be inevitable given the negative data points," the analysts said. RBC has a sector perform rating and a $44 price target on the stock.
Price: 33.93, Change: +0.14, Percent Change: +0.41
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