Financial Services

Goldman downgrades Kraft Heinz to sell, says the recent rally won't last

Kraft and Heinz products

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Despite Kraft Heinz‘s recent rally, the food company has a long road to recovery, according to Goldman Sachs.

The firm downgraded shares of Kraft Heinz to sell from neutral because the stock has gone up too much, too fast since Kraft’s strong third-quarter earnings. Goldman left its $29 per share 12-month price target unchanged, which Kraft blew by last month, trading at $32.31 per share, down 1.7%, just before Thursday’s opening bell.


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