BUZZ-Campbell's down after BofA downgrades rating
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BofA downgraded Campbell's stock from "overweight" to "marketweight" due to prolonged earnings softness and questionable M&A activities. The acquisition of a 49% stake in La Regina is seen as beneficial for margins but poorly timed given Campbell's strained balance sheet. The snack category remains pressured, with the company relying on promotions and innovation to stabilize. The stock is down 31% YTD, with a median price target of $30.
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