Evercore ISI downgraded Kraft Heinz (KHC) to In Line from Outperform with a price target of $35, down from $38. The downgrade reflects continued 12-week measured channel sales weakness of down 4% year-over-year and limited visibility on when sales will stabilize, the analyst tells investors in a research note. The firm says Kraft Heinz likely needs to increase investment spending, putting gross margin risk. Its estimates are below consensus for 2025.
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