Much of Campbell’s Co (NASDAQ:CPB) second-quarter sales and earnings miss was due to adverse weather in January, according to Bank of America Securities analyst Brian Holland.
The Campbell’s Analyst: Holland reaffirmed a Neutral rating and price target of $30.
The Campbell’s Thesis: The company’s net sales declined by 4.5% year-on-year to $2,564 million and missed Street expectations of $2,617 million, Holland said in the note.
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Campbell’s non-GAAP net income of 51 cents per share fell short of the consensus of 57 cents …