Kraft Heinz price target lowered to $21 from $25 at BofA

BofA analyst Peter Galbo lowered the firm’s price target on Kraft Heinz (KHC) to $21 from $25 and keeps an Underperform rating on the shares. A Q4 EPS beat that was tax driven has been overshadowed by conversation around the company’s decision to pause its work related to its separation, notes the analyst, who adds that the announcement “came as a surprise to us.” The firm, which will look for incremental commentary when Kraft Heinz presents at CAGNY next week, lowered its FY26 and FY27 adjusted EPS estimates to $2.00 and $2.10 from $2.45 and $2.50, respectively.