Bernstein Upgrades Kraft Heinz Company (KHC) to Outperform, 'better positioned relative to peers'

Bernstein analyst Alexia Howard upgraded Kraft Heinz Company (NASDAQ: KHC) from Market Perform to Outperform with a price target of $40.00.

The analyst comments "We are upgrading Kraft Heinz to Outperform with a TP of $40 due to its cheap valuation, fair relative positioning in a GLP-1 world given its protein-forward portfolio in the U.S., and an improved business model implemented under Mr. Miguel Patricio. With its multiple at an all-time low and a portfolio that is better positioned relative to peers in a GLP-1 world, we see the risk-reward as attractive over the next 12 months."

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 $33.24 yesterday.

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