Deutsche Bank Upgrades Kraft Heinz Company (KHC) to Buy

August 5, 2016 6:36 AM EDT
Get Alerts KHC Hot Sheet
Price: $87.83 +0.92%

Rating Summary:
    11 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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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.

For an analyst ratings summary and ratings history on Kraft Heinz Company click here. For more ratings news on Kraft Heinz Company click here.

Shares of Kraft Heinz Company closed at $85.54 yesterday.

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