Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism
Portfolio Pulse from Nabaparna Bhattacharya
Analysts remain optimistic about Kraft Heinz (NASDAQ:KHC) despite a 3.6% decline in Q2 FY24 sales. BofA Securities, Stifel, and Piper Sandler analysts reiterated Buy ratings, citing cost efficiencies and future foodservice initiatives as positive factors. Price targets were raised to $40-$41, and EPS estimates were adjusted upwards.
August 01, 2024 | 6:03 pm
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Analysts from BofA Securities, Stifel, and Piper Sandler reiterated Buy ratings for Kraft Heinz (KHC) despite a 3.6% decline in Q2 FY24 sales. They raised price targets to $40-$41, citing cost efficiencies and future foodservice initiatives as positive factors. EPS estimates were also adjusted upwards.
Despite a decline in sales, analysts are optimistic about Kraft Heinz due to cost efficiencies and future foodservice initiatives. The reiterated Buy ratings and raised price targets indicate positive sentiment, likely leading to a short-term price increase.
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