Kraft Heinz Company (KHC) PT Lowered to $35 at Jefferies After Investor Day Offered a 2 Year Reinvigoration Plan
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Jefferies analyst Rob Dickerson lowered the price target on Kraft Heinz Company (NASDAQ: KHC) to $35.00 (from $37.00) after attending the company's investor day where management provided a clear plan to reinvigorate growth, based on six consumer platforms such as taste elevation, easy meals made better, and real food snacking. This strategy resonated compared to the prior myopic focus on category-specific development.
The analyst maintained a Hold rating, stating "Overall, we liked that mgmt. acknowledged its weaknesses, seemingly gave itself some room to reorganize and execute over the next two years (in our view), and is willing to increasingly focus on areas where it has a more probable chance of winning, both via more direct investment and explicit divestment, as seen with its announced
cheese sale to Lactalis"..
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