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That Buy rating is backed by a $47 price target that points toward 40% share appreciation in the coming year. Hence, we remain Buy rated,” Powers stated. pre-pandemic, enhanced capabilities across the company, better management execution, etc.) and supportive valuations. “While we acknowledge and understand recent negative sentiment around packaged food stocks owing to (i) skepticism around demand/ volume recovery, (ii) potential retailer pushback on pricing, and (iii) the risks of trade down or intensifying competitive dynamics, we remain constructive on KHC’s improved fundamentals (i.e., structurally stronger portfolio, clearer growth/ corporate strategy, expansion opportunities in Foodservice and Emerging Markets, healthier levels of reinvestment spending vs. Powers notes headwinds in the industry, but sees the company as fundamentally strong.

Turning to the Street’s analysts, we find Deutsche Bank’s Stephen Powers taking a bullish position on Kraft Hienz. The company generated approximately $26 billion in total revenue last year, and saw both revenue and earnings show year-over-year increases in the latest financial report, from 2Q23.