Fri Sep 20 13:07:34 UTC 2024: ## Campbell Soup Stock Upgraded to “Buy” by Argus, Analyst Opinions Vary
**New York, NY (MarketBeat News)** – Campbell Soup Company (NASDAQ:CPB) received a boost on Friday as equities research analysts at Argus upgraded the stock from a “hold” to a “buy” rating, citing potential upside. Argus has set a price target of $59.00, representing a 16.05% increase from the company’s previous closing price.
This positive outlook comes amid a mixed bag of analyst opinions. While some, like DA Davidson and Royal Bank of Canada, maintain bullish stances with price target increases, others, including Citigroup and Barclays, hold more cautious views. Overall, MarketBeat data reveals an average rating of “Hold” with a consensus price target of $49.69.
Campbell Soup’s recent earnings report, released on August 29th, showcased strong performance. The company exceeded analysts’ expectations with earnings per share (EPS) of $0.63, surpassing the estimated $0.62. Revenue for the quarter reached $2.29 billion, slightly below the anticipated $2.31 billion.
Institutional investors are also showing interest in CPB. Notably, Point72 Asia Singapore Pte. Ltd., Brandes Investment Partners LP, B. Riley Wealth Advisors Inc., William B. Walkup & Associates Inc., and Northwestern Mutual Wealth Management Co. have all either purchased new positions or increased their holdings in the company during the second quarter. Hedge funds and institutional investors currently own 52.35% of Campbell Soup’s stock.
Campbell Soup Company, a leading manufacturer and marketer of food and beverage products, operates through two segments: Meals & Beverages and Snacks. Its products are distributed globally, with a focus on the US and Canadian markets.
Investors will be watching closely to see if Campbell Soup can sustain its positive momentum and justify the optimistic outlook expressed by Argus and other bullish analysts.
First Piper 