Evercore ISI upgraded Kraft Heinz to Outperform from In Line with a price target of $42, up from $40. The firm maintains its view that organic sales trends will turn positive in 2024 and is nudging up its 2024 EBITDA forecast due to stabilizing U.S. retail sales trends, margin help from productivity gains, moderating commodity costs, expected discipline on promotion and sustainable growth in emerging markets, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KHC:
- Kraft Heinz (NASDAQ:KHC) Gains on $3B Share Buyback Program
- Unusually active option classes on open November 27th
- Kraft Heinz announces $3B share repurchase program
- Kraft Heinz announces updates to executive leadership team
- JM Smucker (NYSE:SJM), Kraft Heinz Rise on Analyst Upgrade
Questions or Comments about the article? Write to editor@tipranks.com