Deutsche Bank Upgrades Kraft Heinz Company (KHC) to Buy
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Deutsche Bank upgraded Kraft Heinz Company (NASDAQ: KHC) from Hold to Buy with a price target of $103.00 (from $85.00). The change follows the release of Q2 earnings.
"We believe Kraft Heinz is an attractive long-term story with industry-leading margins, solid market share positions across its portfolio, and a strategy currently emulated (with varying success) by a number of peers. In the near-term, we believe Kraft Heinz can exceed its cost savings target and will continue to benefit from a favorable input cost environment. In addition, the company is investing in select innovation with a focus onbuilding long-term brands, as opposed to simply driving growth through cost cutting. Thus, we are upgrading Kraft Heinz to BUY," said Mario Contreras.
Shares of Kraft Heinz Company closed at $85.54 yesterday.
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