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Fly News Breaks for August 16, 2017
NSRGY, KHC
Aug 16, 2017 | 06:16 EDT
Piper Jaffray analyst Michael Lavery expects Kraft Heinz (KHC) to pursue further consolidation, likely in packaged food, and believes potential divestitures from Nestle (NSRGY) could fit the company's criteria well. Such a deal could boost Kraft's international scale and provide synergy savings in its U.S. frozen supply chain, the analyst tells investors in a research note. He maintains a Neutral rating on Kraft Heinz shares with a $92 price target.
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