RBC Initiates Coverage on Kraft Heinz With Outperform Rating
The bank says shares of the food and beverage company, which have lagged over the past year, are poised for a turnaround.
RBC Capital Markets has begun coverage of Kraft Heinz with an outperform rating, according to a report cited by CNBC.
The bank's initiation comes after shares of the food and beverage company have lagged the broader market over the past year, CNBC reported.
RBC's outperform rating signals that its analysts expect the stock to perform better than the average return of stocks they cover, according to the report.
Further details on RBC's price target or the specific rationale behind the rating were not included in the available reporting.
Kraft Heinz has not issued a public comment on the rating change, according to the available information.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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