Campbell Soup (NYSE:CPB) shares are trading higher on Monday after Jefferies upgraded the stock from Hold to Buy and announced a price target of $59 per share.
Campbell Soup is now a leading global manufacturer and marketer of branded convenience food products, most notably soup. The firm's product assortment includes well-known brands like Campbell's, Pace, Prego, Swanson, V8, and Pepperidge Farm. Following the sale of its international snacking operations, the firm is poised to derive nearly all of its sales from its home turf.
Campbell has made a handful of acquisitions to reshape its product mix the past few years, including the tie-up with Snyder's-Lance (completed in March 2018), which stands to enhance its exposure to the faster-growing on-trend snack food aisle, complementing its Pepperidge Farm lineup.
Campbell Soup shares were trading up 0.83% at $49.55 on Monday. The stock has a 52-week high of $57.54 and a 52-week low of $39.24.