Goldman Sachs Maintains Sell Rating on H.J. Heinz

A report from Goldman Sachs reiterates its Sell rating on H.J. Heinz (NYSE: HNZ).

The report states, “The theme of emerging market strength offset by developed market weakness for Heinz's business continued this quarter. Emerging markets posted healthy organic sales growth of 15.8% (50.3% w/ acquisitions), but developed markets drove down the firm's aggregate organic sales growth to 1.5% (1% if you consider its Boston Market discontinuation to be organic) – a deceleration from 1Q12 (despite an easier comparison) and well below its peer group average.”

HNZ closed yesterday at $52.82.