Kraft Heinz downgraded to Hold from Buy at Deutsche Bank
The Fly

Kraft Heinz downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Steve Powers downgraded Kraft Heinz (KHC) to Hold from Buy with a price target of $35, down from $39. The firm cites reduced growth and profitability assumptions into fiscal 2025 and over the medium-term for the downgrade. Although Kraft Heinz’s valuation “arguably remains depressed or attractive” relative to the market, Deutsche now sees a more protracted path to a sales recovery that likely pushes out any meaningful positive catalysts, the analyst tells investors in a research note.

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