RBC Capital Cuts Estimates Ahead of Kraft Heinz's (KHC) 4Q Earnings Due to FX Headwinds - Reiterates Outperform

RBC Capital reiterated an Outperform rating and $88.00 price target on Kraft Heinz Company (NASDAQ: KHC), ahead of the company's 4Q earnings release. RBC lowered 4Q EPS estimates from $0.59 to $0.57, largely due to additional FX drag. 2016 and 2017 EPS estimates are cut from $2.88 and $2.93 to $2.81 and $3.84, this cut is also due to FX.

Analyst David Palmer commented, "We are lowering estimates heading into 4Q15 earnings on 2/25, largely due to currency. We continue to believe in a rapid ramp in earnings into 2017—and upside to consensus beginning in 2017—due to a combination of promotion efficiency and synergy upside. Maintain Outperform."

For an analyst ratings summary and ratings history on Kraft Heinz Company click here. For more ratings news on Kraft Heinz Company click here.

Shares of Kraft Heinz Company closed at $72.82 yesterday.

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