RBC Starts Kraft Heinz at Outperform, Sees 29% Upside

According to CNBC, RBC Capital Markets initiated coverage of Kraft Heinz with an outperform rating and a $32 price target, implying 29% upside from Wednesday's close. Analyst Nik Modi said the company's new products and reinvestment in price, innovation and marketing, supported by $700 million in reinvestment, are already helping and should drive further improvement through 2026 and a stronger shift in 2027. RBC expects Kraft Heinz to post 0.9% organic growth in 2027, above the Street consensus of 0.4%, and said innovations including PowerMac and Capri Sun Hydrate could support the shares. Kraft Heinz has fallen nearly 4% over the past year, while the S&P 500 has risen 14% in that period. LSEG data show 15 of the 20 analysts covering Kraft Heinz rate the stock hold.