- Susquehanna upgrades Kraft Heinz (NASDAQ:KHC) to a Positive rating from Neutral off a positive view on M&A gains the food giant can realize.
- Other positive factors seen by analyst Pablo Zuanic include the under-appreciated efficiency at Heinz Europe and the potential for cost savings to exceed guidance.
- "Although KHC trades at a premium, we do not think the valuation reflects the three-year upside," reads the Susquehanna note.
- The investment firm sets a price target of $98.
- KHC +0.20% premarket to $71.31.