Kraft Heinz price target lowered to $37 from $38 at Wells Fargo

Wells Fargo lowered the firm’s price target on Kraft Heinz to $37 from $38 and keeps an Equal Weight rating on the shares. The firm says the stock reaction on Kraft Heinz seemed a bit harsh after Q4 results but wells nevertheless trims its target with less visibility on organic sales and more reliance on GM in the model, even if it sees EPS achievable and valuation “intriguing.”