Campbell Soup Rao's Brand Growth Strong And US Sales Trend Improving, Analyst Upgrades Stock

Piper Sandler analyst Michael S. Lavery upgraded Campbell Soup Company CPB to Overweight from Neutral, raising the price forecast from $47 to $56.The analyst upgraded Campbell Soup due to improved long-term growth prospects from its Rao’s brand and better sales trends in the U.S. (excluding SOVO brands).Despite better trends, the stock has had a 15% pullback since mid-September. The analyst sees this as a good buying opportunity.Lower steel costs (down 25%) and secured contracts for 2025 further support gro ...