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Fly News Breaks for January 22, 2020
KHC
Jan 22, 2020 | 17:52 EDT
Jefferies analyst Rob Dickerson initiated coverage of Kraft Heinz with a Hold rating and $33 price target. The analyst says the company's go-forward strategy will have to include increased brand investment, portfolio simplification, and a capital structure reorganization, which may require a dividend cut. Dickerson adds that he is keeping an eye on Kraft Heinz shares as a value play however given that its sentiment and expectations are low while its free cash flow yield looks attractive.
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