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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 08:40 EDT
RBC Capital analyst Nik Modi raised the firm's price target on Campbell Soup to $59 from $55 and keeps an Outperform rating on the shares. The analyst says the company's latest Q2 earnings beat and raised FY20 guidance suggests "slow and steady improvement", with maintained momentum of its Snacks business and increased household penetration of its soup products among millenials. Despite the 10% rise in the stock price, Modi continues to recommend the stock with expected momentum in soup and his view that the company is getting closer to breaking up into two entities.
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