Kraft Heinz price target raised to $48 from $45 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Kraft Heinz to $48 from $45 and keeps a Buy rating on the shares. The company reported solid results, with higher-than-expected price realization that drove meaningful gross margin recovery in the quarter, the analyst tells investors in a research note. The underlying momentum at Kraft Heinz remains strong across its Foodservice and Emerging markets, and the management has detailed a number of initiatives to improve its U.S. retail market share performance, the firm added.