Piper Sandler lowered the firm’s price target on Kraft Heinz (KHC) to $23 from $24 and keeps a Neutral rating on the shares. The firm believes Kraft’s strategic pivot to step up investments in its brands and capabilities is the right thing for the business and is long overdue. However, Piper thinks Investors may have to wait until 2027 to see any organic sales growth, with EPS growth even further out.
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