Piper Sandler last night upgraded Kraft Heinz to Overweight from Neutral with an unchanged price target of $42. The firm sees incrementally better visibility on Kraft Heinz’s upside in foodservice, helped by its new innovation in time-saving dispensers, which it expects can drive incremental revenues within existing relationships and some incremental distribution. Foodservice is just 14% of the company’s sales, but fast growing, and the unit’s growth will accelerate in 2025, helping either offset potential retail softness or driving upside to expectations, which should help the stock re-rate, the analyst tells investors in a research note.
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