- 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.
- Photo Via Company
Nasdaq Edges Lower; Unity Biotechnology Shares Plummet
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite trading lower on Monday.
The Dow traded up 0.91% to 32,530.40 while the NASDAQ fell 0.09% to 11,813.90. The S&P 500, also rose, gaining, 0.55% to 3,992.68.
