Goldman Sachs upgraded Kraft Heinz (KHC) to Neutral from Sell with a price target of $27, up from $25. The firm now sees a more balanced risk/reward, saying the company’s previously announced review of strategic alternatives could result in upside risk. That said, Goldman remains cautious on Kraft citing continued weakness in scanner data with sales declines and market share losses across key categories. The company, however, has a portfolio of well-known brands, creating potential actions which could be accretive to shareholders, contends the firm.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KHC:
- Food, agriculture leaders warn of MAHA’s overreach, WSJ reports
- Kraft Heinz Announces Leadership Transition in Finance
- Kraft Heinz to remove food, drug and cosmetic colors from U.S. product portfolio
- Kraft Heinz to remove artificial dyes from U.S. products by 2027, WSJ reports
- Kraft Heinz price target lowered to $25 from $27 at Goldman Sachs