Campbell Soup Company's (CPB) stock plummeted 5.53% in pre-market trading on Wednesday, driven by the company's lowered guidance and a bearish analyst rating.
The packaged foods giant slashed its fiscal 2025 sales and profit forecasts, citing weak demand for its snacks amid intense competition from cheaper private-label brands. Campbell now expects net sales to rise between 6% and 8%, down from its previous forecast range of 9% to 11% growth. Adjusted earnings per share are projected to come in between $2.95 and $3.05, lower than the earlier guidance of $3.12 to $3.22.
Adding to Campbell's woes, Barclays analyst Andrew Lazar maintained a Sell rating on the stock and set a price target of $46.00. The analyst's bearish stance likely exacerbated selling pressure on the shares in pre-market trading.
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