UPDATE: Stifel Upgrades Kraft Heinz Company (KHC) to Buy

(Updated - July 28, 2022 5:22 AM EDT)

Stifel analyst Christopher R. Growe upgraded Kraft Heinz Company (NASDAQ: KHC) from Hold to Buy with a price target of $43.00.

The analyst comments "We are upgrading the shares of Kraft Heinz to Buy and maintaining our $43 target price, which suggests strong upside for the shares from this level. We are taking advantage of some near-term dislocation in the stock and a discount valuation (15% discount to its peers), against the backdrop of a solid and improving operating environment for the business. We see the combination of strong pricing taking hold, the potential for less negative elasticity levels, some relief in the input cost environment, and continued robust International growth as keys to driving the shares higher. Our upgrade of the shares follows the company’s solid showing in 2Q22 – sales and EBITDA were both above expectations driven by both stronger price realization and volume growth. The company raised its sales guidance and kept its EBITDA guidance in place – our estimates rise for both sales and EBITDA."

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 $36.34 yesterday.

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