Evercore ISI upgraded Kraft Heinz to Outperform from In Line with a price target of $42, up from $40. The firm maintains its view that organic sales trends will turn positive in 2024 and is nudging up its 2024 EBITDA forecast due to stabilizing U.S. retail sales trends, margin help from productivity gains, moderating commodity costs, expected discipline on promotion and sustainable growth in emerging markets, the analyst tells investors.
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