Thu, February 13, 2025

Kraft Heinz cut by BofA and Citi as outlook disappoints

The article from MSN discusses how Kraft Heinz, a major food company, has faced downgrades from two prominent financial institutions, Bank of America (BofA) and Citigroup (Citi), due to a disappointing outlook. BofA has downgraded Kraft Heinz from "buy" to "neutral" and reduced its price target from $48 to $40, citing concerns over the company's growth prospects and the impact of inflation on its margins. Similarly, Citi has also downgraded the stock from "buy" to "neutral" with a price target cut from $43 to $39, pointing to issues like volume declines, lack of pricing power, and a challenging consumer environment. Both banks express skepticism about Kraft Heinz's ability to meet its financial targets amidst these economic pressures.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/top-stocks/kraft-heinz-cut-by-bofa-and-citi-as-outlook-disappoints/ar-AA1yZ70Q ]