Goldman Sachs Downgrades Heinz (HNZ) to Sell
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Price: $72.49 --0%
Rating Summary:
0 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Heinz (NYSE: HNZ) from Neutral to Sell with a downside $49 price target.
The firm notes the stock trades at a premium to peers but its organic growth has begun to lag - something they expect to continue.
"We see the stock's recent strength as an opportunity to take profits and believe the shares will lag peers going forward as growth lags and its relative premium fades," the said.
For more ratings news on Heinz click here and for the rating history of Heinz click here.
Shares of Heinz closed at $54.92 yesterday.
The firm notes the stock trades at a premium to peers but its organic growth has begun to lag - something they expect to continue.
"We see the stock's recent strength as an opportunity to take profits and believe the shares will lag peers going forward as growth lags and its relative premium fades," the said.
For more ratings news on Heinz click here and for the rating history of Heinz click here.
Shares of Heinz closed at $54.92 yesterday.
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