JPMorgan downgraded Kraft Heinz (KHC) to Underweight from Neutral with a price target of $22, down from $24. The company reported a Q4 beat but its 2026 organic sales growth and earnings outlooks were below consensus estimates, the analyst tells investors in a research note. The firm sees challenges that could limit Kraft’s expected volume inflection as 2026 progresses. JPMorgan cites the company’s ongoing volume challenges and planned investments for the downgrade.
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