Kraft Heinz initiated with a Neutral at BTIG

BTIG initiated coverage of Kraft Heinz (KHC) with a Neutral rating and no price target While the firm agrees with the company’s strategic shift toward increased brand investment, it adds “we’re unsure of the outcome.” If volume trends improve, there’s “clearly upside potential in the shares,” but it is too early to tell how the demand side of the equation plays out, the analyst tells investors.