Kraft Heinz price target lowered to $47 from $50 at Mizuho

Mizuho analyst John Baumgartner lowered the firm’s price target on Kraft Heinz to $47 from $50 and keeps a Buy rating on the shares. Absent another leg down for consumer spending, staples are unlikely to catch support from renewed defensive bids, says the analyst, who expects largely range-bound valuations.