Goldman Sachs raised the firm’s price target on Kraft Heinz to $48 from $45 and keeps a Buy rating on the shares. The company reported solid results, with higher-than-expected price realization that drove meaningful gross margin recovery in the quarter, the analyst tells investors in a research note. The underlying momentum at Kraft Heinz remains strong across its Foodservice and Emerging markets, and the management has detailed a number of initiatives to improve its U.S. retail market share performance, the firm added.
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Published first on TheFly
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Read More on KHC:
- Kraft Heinz raises FY23 EPS view to $2.83-$2.91, consensus $2.72
- Kraft Heinz reports Q1 EPS 68c, consensus 60c
- Whole Earth Brands announce new executive appointments, amends credit agreement
- Kraft Heinz price target lowered to $45 from $46 at Deutsche Bank
- Kraft Heinz resumed with a Buy at Stifel
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