Goldman Sachs lowered the firm’s price target on Kraft Heinz (KHC) to $32 from $34 and keeps a Sell rating on the shares. The company’s Q3 results revealed soft U.S. Retail trends, with recovery seen taking longer than expected given competitive pressures, the analyst tells investors in a research note. Given ongoing volume weakness for Kraft Heinz, coupled with price gap challenges, incremental promotional activity should continue to pressure margins, the firm added.
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