BUZZ-Mizuho downgrades Kraft Heinz to 'neutral', cuts PT
Mizuho lowers rating on Jell-O maker Kraft Heinz KHC.O to "neutral" from "outperform", citing eroding volumes in food industry
Brokerage attributes weakness in food processing industry to effect of dietary changes and increased use of GLP-1 weight-loss drugs, as well as inflation likely hitting relative value for some product categories
Potential confirmation of Robert Kennedy Jr. as Secretary of Health and Human Services would likely ramp attention on additives and food processing - Mizuho
Cuts PT to $31 from $38 owing to persistent weakness in demand for KHC's products as consumers across income groups opt for cheaper alternatives
Kraft Heinz is scheduled to report fourth-quarter results on Wednesday
7 of 23 brokerages rate stock "buy" or "higher", 15 "hold" and one "sell"; their median PT is $33.50 - LSEG
KHC fell about 17% in 2024
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