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Kraft Heinz will thrive as it uses its merger and acquisition expertise to boost earnings, according to one Wall Street firm.
Jefferies initiated coverage on the food company's shares with a buy rating, citing Kraft Heinz's track record of cost cutting after its acquisitions.
"We view Kraft Heinz as a core holding given best-in-class M&A optionality, & improving returns & sales growth. Kraft Heinz is positioned to outperform its peers as the industry transitions from a growth to mature stage owing to its strong brand portfolio & unique culture," analyst Akshay Jagdale wrote in a note to clients Friday. "Kraft Heinz should trade at a premium to its peers & grow EPS DD [double digit] (incl. M&A), thereby delivering best-in-class returns."