Kraft Heinz price target lowered to $28 from $30 at Stifel

Stifel analyst Matthew Smith lowered the firm’s price target on Kraft Heinz (KHC) to $28 from $30 and keeps a Hold rating on the shares. The firm believes the underperformance in shares that followed the break-up announcement was primarily due to the size of the growth company at about 60% of total Kraft Heinz and the lack of support from Berkshire Hathaway (BRK.B) (BRK.A), which owns roughly 27% of the company, making it “by far the largest shareholder.” The firm lowered its target to reflect the overhang of Berkshire potentially selling shares and the lack of a near-term catalyst, the analyst tells investors.