BofA Securities Raises Kraft Heinz (KHC) Price Target to $29 Amid Potential Spin-Off

The Kraft Heinz Company (NASDAQ:KHC) is one of the best alternative meat stocks to invest in according to analysts. On July 14, BofA Securities reaffirmed its Underperform rating and $29 price target for KHC, despite reports that the company may split into two units—grocery and sauces/spreads.

BofA Securities Raises Kraft Heinz (KHC) Price Target to $29 Amid Potential Spin-Off

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The proposed split would follow recent board changes aimed at boosting shareholder value, with the grocery unit accounting for 55% of sales ($14B) and the Taste Elevation division contributing the remaining 45% ($11B). Key brands in the grocery unit would include Kraft, Oscar Mayer, and Lunchables, while the Taste Elevation arm would feature Heinz and Philadelphia.

The Kraft Heinz Company (NASDAQ:KHC) is a multinational food and beverage manufacturer with well-known brands, including Oscar Mayer and Kraft. In 2022, it partnered with NotCo, a Chilean food tech company, to form The Kraft Heinz Not Company, a joint venture focused on leveraging AI to develop plant-based and alternative protein products. The partnership includes plans to explore advanced technologies that intersect with lab-grown meat innovation.

While we acknowledge the potential of The Kraft Heinz Company (NASDAQ:KHC) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KHC and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.