The Campbell’s Company (NASDAQ:CPB) is one of the high short interest stocks to buy right now. On December 10, Bernstein lowered the firm’s price target on Campbell’s Company to $33 from $39 and maintained an Outperform rating on the shares. According to Bernstein, the company’s product mix generally aligns with current consumer trends. Their Meals & Beverages division benefits from performance in broths and condensed soups. Premium brands like Pacifico and Rao’s also perform well due to their focus on high-quality ingredients. However, Ready-to-Serve soup is struggling due to the Well Yes! brand discontinuation.
A day prior, on December 9, Campbell’s Company announced its FQ1 earnings beat, with a Non-GAAP EPS of $0.77, surpassing analyst expectations by $0.04. Quarterly revenue reached $2.7 billion, which exceeded forecasts by $40 million, despite representing a 3% year-over-year decline.
In a strategic effort to support the growth of the company’s recently acquired Rao’s sauces brand (which was a deal that closed earlier in 2024), Campbell’s Company has entered into agreements to acquire a 49% interest in La Regina, the producer of the sauces. The company also reaffirmed its full fiscal year 2026 guidance, projecting an adjusted EPS between $2.40 and $2.55.
The Campbell’s Company, together with its subsidiaries, manufactures and markets food and beverage products in the US and internationally. It operates through the Meals & Beverages and Snacks segments.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
