Mizuho initiated coverage on KHC with a “buy” rating and $48 price target
Mizuho initiated coverage on Kraft Heinz Co (NASDAQ:KHC) with a “buy” rating and $48 price target this morning, saying that the underestimated stock could jump over 25%. KHC also received a mild price-target cut, however, with Deutsche Bank lowering its price by $1 to $47. Kraft Heinz stock is trading flat premarket, up 0.3% to trade at $38.10.
Should any analysts in coverage look to follow Mizuho’s lead, a round of bull notes could provide tailwinds. Of the 11 analysts in coverage, eight carry a “hold” or worse rating.
Plus, though calls are still winning out on an absolute basis, the options pits have been much more bearish than usual. This is per KHC’s 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 92% of readings from the past year.
On the charts, Kraft Heinz stock has found support at the 200-day moving average, which sits just below the $38 level. Year-to-date, the equity is up 5.9%.
Image and article originally from www.schaeffersresearch.com. Read the original article here.