Morgan Stanley Cuts Kraft Heinz (KHC) PT amid Higher Oil and Input Costs

The Kraft Heinz Company (NASDAQ:KHC) is included among the 10 Best Food Stocks with Highest Dividends.

Morgan Stanley Cuts Kraft Heinz (KHC) PT amid Higher Oil and Input Costs

On April 23, Morgan Stanley lowered its price recommendation on The Kraft Heinz Company (NASDAQ:KHC) to $22 from $23. It reiterated an Underweight rating on the shares. The firm is adjusting estimates across its packaged foods coverage to reflect recent trends. The analyst pointed to a more challenging forward commodity outlook, especially after the recent rise in oil.

On April 9, BNP Paribas lowered its price goal on KHC to $18 from $19. It maintained an Underperform rating on the shares. The firm said US packaged food valuations “look cheap relative to history,” but believes they are “cheap for a reason.” It lowered targets across the group to reflect volume growth that “looks to be muted at best” and pricing power that “could be somewhat illusory.”

The Kraft Heinz Company (NASDAQ:KHC) manufactures and markets food and beverage products globally. Its portfolio is organized across eight consumer-driven platforms: Taste Elevation, Easy Ready Meals, Substantial Snacking, Desserts, Hydration, Cheese, Coffee, Meats, and other grocery products. The company reports two segments by geography: North America and International Developed Markets.

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