Bank of America Reviews Earnings at H.J. Heinz Company

Bank of America has published a research report on H.J. Heinz Company HNZ reviewing earnings at the company. In the report, Bank of America wrote, "HNZ reported 1Q results this morning. Comparable EPS was $0.78 versus our $0.75 forecast and $0.76 consensus. Results were mixed. Positives were: 1) Organic sales of 3.1% were roughly in line with our forecast; 2) Europe drove upside in organic sales and operating profit; 3) North America was in line despite a tough environment; 4) Tax rate and interest expense were a combined 5 cents better than our forecast." Bank of America rated Heinz a Neutral with a price target of $55.00. Heinz closed Monday at $52.04.