Citi analyst Thomas Palmer lowered the firm’s price target on Kraft Heinz to $39 from $41 and keeps a Buy rating on the shares. The firm thinks the company’s Q3 sales are likely come in below the consensus estimate and earnings inline. Kraft is the cheapest food stock, but it is difficult to be constructive near-term when takeaway trends “continue to languish,” the analyst tells investors in a research note.
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