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Fly News Breaks for September 3, 2019
CPB
Sep 3, 2019 | 07:24 EDT
JPMorgan analyst Ken Goldman raised his price target for Campbell Soup to $48 from $41 following the company's better than expected Q4 results. The analyst believes Campbell's fiscal 2020 guidance is attainable but he thinks much of this is already reflected in the shares. As such, he keeps a Neutral rating on the name. Goldman attributes at least a portion of this yea's expected sales growth improvement to more normalized promotional and marketing activity for soup rather than a fundamental turn in consumer preferences.
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