Campbell's Expected to Cut Prices After Pepsi's Indication of Price Reductions Next Year, RBC Says

MT Newswires Live12-10

Campbell's (CPB) is likely to cut prices for its salty snacks if Pepsi (PEP) follows through on its indication that it will reduce prices in food next year, RBC said in a Wednesday note.

Noting the development, RBC said it is tweaking its estimates and now expects pricing to turn negative for the CPB's Snacks segment in fiscal H2 to limit market share losses.

The brokerage also decreased its fiscal 2026 organic growth estimate to -1% from -0.7% previously and its earnings per share outlook to $2.40 from $2.44 earlier.

Additionally, RBC said that Campbell's recent fiscal Q1 results showed "little change/improvement in underlying trends" as the Snacks segment generally remains challenged due to consumer purchasing behavior.

The firm lowered its price target on Campbell's to $30 from $35 and maintained its Sector Perform rating.

Price: 28.26, Change: -0.21, Percent Change: -0.74

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