TD Cowen analyst Robert Moskow lowered the firm’s price target on Kraft Heinz (KHC) to $24 from $26 and keeps a Hold rating on the shares. The firm noted the company announced they will pause their separation process and rebase 2026 EPS to $1.98 to $2.10 for $600M of incremental investment in product quality, opening price points, and sales force expansion. The announcement is very consistent with the “No Pain, No Gain” thesis Cowen laid out in its April 2025 report, but the probability of returning this challenged portfolio to growth is less clear.
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