Kraft Heinz price target lowered to $38 from $40 at Barclays

Barclays analyst Andrew Lazar lowered the firm’s price target on Kraft Heinz to $38 from $40 and keeps an Equal Weight rating on the shares. Within staples, the analyst continues to favor names that have greater visibility to volume growth and those that present more of a relative valuation opportunity. Heading into the Q2 reports, investors are “hard pivoting” away from rewarding margin-driven beats and placing greater emphasis on sales, and specifically volume and performance as pricing moves past its peak, the analyst tells investors in a research note. Barclays is “sticking with names with better volume visibility near term or more idiosyncratic growth stories, for the moment.”