Kraft Heinz price target lowered to $41 from $43 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on Kraft Heinz to $41 from $43 and keeps a Neutral rating on the shares. Since elevated Supplemental Nutrition Assistance Program payments ended, U.S. measured retail sales gains slowed from a steady 10% monthly average to 5% in May, the analyst tells investors in a research note. The firm says Kraft’s gains slowed from 10% in November and December to 1%-2% in the last two months. It reduced estimates on softer sales expectations.