Wells Fargo Maintains Equal-Weight Rating for Kraft Heinz: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of Kraft Heinz KHC and raise its price target from $41.00 to $44.00.

Shares of Kraft Heinz are trading up 1.09% over the last 24 hours, at $40.69 per share.

A move to $44.00 would account for a 8.13% increase from the current share price.

About Kraft Heinz

In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth-largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Velveeta, and Philadelphia. Outside North America, the firm's global reach counts a distribution network in Europe and emerging markets that drives 20%-25% of its consolidated sales base, as its products are sold in more than 190 countries and territories.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.