Kraft Heinz price target lowered to $25 from $27 at Goldman Sachs

Goldman Sachs analyst Leah Jordan lowered the firm’s price target on Kraft Heinz (KHC) to $25 from $27 and keeps a Sell rating on the shares. The firm says center-of-store food companies continue to face a number of headwinds, including increasing cost pressures along with “tepid” volume demand amid ongoing consumption shifts toward fresh and increasing competition from private label and smaller brands. It could take a few quarters of consistent execution to regain investor confidence, as some of these pressures likely persist in the near term, the analyst tells investors in a research note. As such, Goldman sees limited upside potential for estimates of related companies in the near term.