Kraft Heinz price target lowered to $31 from $35 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on Kraft Heinz (KHC) to $31 from $35 and keeps a Neutral rating on the shares. The firm says Kraft Heinz continues to struggle to generate organic revenue growth in a more normalized environment, likely a carryover from its gutted marketing capabilities under 3G’s management. It is now working to rebuild capabilities, starting with its “Brand Growth System” diagnostic tool, though any potentially better momentum likely takes time, Piper adds.