Wells Fargo lowered the firm’s price target on Kraft Heinz (KHC) to $30 from $31 and keeps an Equal Weight rating on the shares. The firm felt Kraft Heinz needed to reset EPS into 2025 to release some tension in this model. On paper, 2025 guide is just that. In reality, the weak guide was on tax/incentive comp, with debates likely to linger on organic sales and margins, Wells adds.
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Read More on KHC:
- Citi downgrades Kraft Heinz with outlook not ‘fully de-risked’
- Kraft Heinz downgraded to Neutral from Buy at Citi
- Kraft Heinz price target lowered to $31 from $35 at Piper Sandler
- BofA double downgrades Kraft Heinz to Underperform after ‘disappointing’ outlook
- Kraft Heinz downgraded to Underperform from Buy at BofA
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