Packaged Food Sector To See Mixed Performance Amid Economic Headwinds: Goldman Sachs
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Leah Jordan initiated coverage on several packaged food companies, highlighting mixed performance amid economic headwinds. ConAgra Brands (CAG) and General Mills (GIS) received Buy ratings due to strong portfolios and favorable market trends. Kellanova (K) received a Neutral rating, while Mondelez International (MDLZ) was rated Buy for its growth potential. The Hershey Company (HSY) and The Kraft Heinz Company (KHC) were given Sell ratings due to market share losses and other challenges.
August 12, 2024 | 6:29 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Goldman Sachs initiated coverage on The Hershey Company with a Sell rating and a price target of $185, citing market share losses and potential slowdown in impulse spending.
The Sell rating and lower EPS estimates suggest negative short-term price movement for HSY.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs initiated coverage on The Kraft Heinz Company with a Sell rating and a price target of $34, noting high private label risks and mixed brand positioning.
The Sell rating and lower EPS estimates suggest negative short-term price movement for KHC.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Goldman Sachs initiated coverage on Kellanova with a Neutral rating and a price target of $75, noting enhanced growth and margins but dampened investor sentiment due to takeover speculation.
The Neutral rating suggests limited short-term price movement for K.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs initiated coverage on ConAgra Brands with a Buy rating and a price target of $36, citing strong frozen and snack portfolio and high free cash flow yield.
The Buy rating and optimistic EPS estimates suggest positive short-term price movement for CAG.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs initiated coverage on General Mills with a Buy rating and a price target of $76, noting its diverse portfolio and strong margins.
The Buy rating and stable margin outlook suggest positive short-term price movement for GIS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs initiated coverage on Mondelez International with a Buy rating and a price target of $80, highlighting strong growth potential and improving market trends.
The Buy rating and optimistic EPS estimates suggest positive short-term price movement for MDLZ.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100