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.
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