JPMORGAN CUTS MACY'S TO NEUTRAL FROM OVERWEIGHT
🇺🇸 Campbell’s Expects More Muted Back-Half of Fiscal 2025 https://t.co/BjPxieJZPt
$CPB JPMorgan downgrades Campbell Soup neutral from overweight JPMorgan said in its downgrade of Campbell that “snack trends remain sluggish.” “We therefore see fewer reasons for optimism than we previously did, and we view the stock as trading close to fair value.”
Campbell Soup Company (NASDAQ: CPB) reported mixed results for its second quarter, with earnings per share (EPS) of $0.74 exceeding expectations by $0.02, while revenue of $2.69 billion fell short by $50 million. Following these results, the company's stock dropped 6.3% in pre-market trading. Additionally, Campbell's adjusted its fiscal year 2025 EPS outlook downward to a range of $2.95 to $3.05, down from $3.12 to $3.22. Analysts at JPMorgan downgraded Campbell's stock from overweight to neutral, citing sluggish snack trends and a belief that the stock is trading close to fair value. The company anticipates a more subdued performance in the latter half of fiscal 2025, reflecting broader challenges in the U.S. food sector.
