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UPDATE: Morgan Stanley Upgrades H.J. Heinz Company to Equal-Weight Following Deal

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UPDATE: Stifel Nicolaus Terminates Coverage on H.J. Heinz Company Following Acquisition

Morgan Stanley upgraded H.J. Heinz Company (NYSE: HNZ) from Underweight to Equal-weight and raised the price target to $72.50.

Morgan Stanley commented, "Following the announcement of HNZ's acquisition by Berkshire/3G for $72.50/shr, we move to EW. We view the transaction as positive for sector valuation generally, given speculation on further M&A/divestitures, but do not necessarily view this as precedent for further similarly large transactions."

H.J. Heinz Compan closed at $72.50 on Thursday.

Posted-In: Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

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