Citi lowered the firm’s price target on Kraft Heinz (KHC) to $38 from $39 and keeps a Buy rating on the shares. The company reported a Q3 organic sales growth miss, and indicated that 2024 earnings are expected to be at the low end of its guidance range and growth through 2025 is expected be below the algorithm, the analyst tells investors in a research note. Citi says it is taking Kraft Heinz longer than expected to improve its U.S. retail trends.
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Read More on KHC:
- Kraft Heinz downgraded to Hold from Buy at Deutsche Bank
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