Wells Fargo Maintains Equal-Weight Rating for Kraft Heinz: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of Kraft Heinz KHC and raise its price target from $41.00 to $44.00.

Shares of Kraft Heinz are trading up 1.09% over the last 24 hours, at $40.69 per share.

A move to $44.00 would account for a 8.13% increase from the current share price.

About Kraft Heinz

In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth-largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Velveeta, and Philadelphia. Outside North America, the firm's global reach counts a distribution network in Europe and emerging markets that drives 20%-25% of its consolidated sales base, as its products are sold in more than 190 countries and territories.

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Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Posted In: Analyst RatingsBZI-AAR-UPDATE
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