Kraft Heinz (KHC) PT Raised to $96 at RBC Amid Solid Q2

August 5, 2016 8:14 AM EDT
Get Alerts KHC Hot Sheet
Price: $80.87 +0.47%

Rating Summary:
    11 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 30 | New: 42
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RBC Capital analyst David Palmer reiterated an Outperform rating an raised his price target on Kraft Heinz Company (NASDAQ: KHC) to $96.00 (from $92.00) following Q2 beat.

"We believe the company's cost savings and revenue management programs will continue to deliver rapid, above-consensus EPS growth-and ultimately pave the way to further M&A upside," the analyst commented.

The firm is raising 2016 and 2017e EPS from $3.06 and $3.87 to $3.22 (+47% YOY; $3.11 cons.) and $3.97 (+23% YOY; $3.84 cons.).

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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