- Mizuho analyst John Baumgartner initiated coverage of Kraft Heinz Co (NASDAQ:KHC) with a Buy rating and a price target of $48, implying a 24% upside.
- The analyst believes investor sentiment has been oscillating between extremes of euphoria and despair since the 2015 merger of Kraft and Heinz.
- Baumgartner notes negativity has improved from the 2019/2020 nadir.
- However, he thinks the Street has continued underestimating KHC’s growth potential.
- The company will report its second-quarter FY22 earnings on July 27.
- Price Action: KHC shares are trading higher by 1.45% at $38.57 on the last check Monday.
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