Top Wall Street Forecasters Revamp Campbell's Expectations Ahead Of Q3 Earnings

Group 1 - Campbell's Company (CPB) is set to release its third-quarter earnings results on June 2, with expected earnings of 66 cents per share, a decrease from 75 cents per share in the same period last year [1] - The company projects quarterly revenue of $2.43 billion, an increase from $2.37 billion reported in the previous year [1] - In the second quarter, Campbell's reported sales growth of 9% to $2.685 billion, which fell short of the analyst consensus estimate of $2.74 billion [2] Group 2 - Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and reduced the price target from $40 to $34 [5] - Piper Sandler analyst Michael Lavery kept an Overweight rating but lowered the price target from $45 to $42 [5] - Morgan Stanley analyst Megan Alexander initiated coverage with an Equal-Weight rating and a price target of $40 [5] - JP Morgan analyst Ken Goldman downgraded the stock from Overweight to Neutral, cutting the price target from $48 to $37 [5] - Jefferies analyst Rob Dickerson maintained a Hold rating and reduced the price target from $42 to $40 [5]