Kraft Heinz upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Kraft Heinz (KHC) to Equal Weight from Underweight with a price target of $29, up from $28. The firm’s prior underweight thesis has “largely played out” and estimates for the stock are now “more reasonable”, the analyst tells investors in a research note. While FY26 EPS growth will likely remain pressured, the planned separation for Kraft Heinz will limit downside, the firm adds.