HSBC initiated coverage of Kraft Heinz with a Hold rating and $38 price target. The analyst expects brand equity, successful innovation, and effective ESG ambitions “to continue fostering sector resilience” for the packaged food and household products groups. The firm prefers defensive sectors for wealth preservation during economic turmoil. In packaged food, it prefers Mondelez, and in household products, it prefers Procter & Gamble.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on KHC:
- Kraft Heinz call volume above normal and directionally bullish
- ‘Be Greedy When Others Are Fearful’: Here Are 2 Underperforming Stocks Warren Buffett May Consider Doubling Down On
- TD Cowen starts packaged foods sector with cautious outlook
- Kraft Heinz initiated with a Market Perform at TD Cowen
- Kraft Heinz (NASDAQ:KHC) Introduces New Microwave Platform