Wells Fargo analyst Chris Carey initiated coverage of Kraft Heinz with an Equal Weight rating and $43 price target. The company "needs to prove its top-line algorithm," all the while investing, Carey tells investors in a research note. The analyst expects Kraft’s earnings growth to lag peers as sales sustainability takes priority. This is the right strategy long-term, but is "not the makings of multiple expansion on the stock," writes Carey.
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Published first on TheFly
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