Kraft Heinz price target lowered to $34 from $41 at Piper Sandler

Piper Sandler lowered the firm’s price target on Kraft Heinz to $34 from $41 and keeps a Neutral rating on the shares. Kraft Heinz’s U.S. measured sales declined 2% in the latest 12 weeks while its growth has decelerated since 4Q22, and some key categories remain under pressure and its Lunchables launch in schools is initially very small, the analyst tells investors in a research note.