BofA Securities Raises Kraft Heinz (KHC) Price Target to $29 Amid Potential Spin-Off

The Kraft Heinz Company (NASDAQ:KHC) is one of the best alternative meat stocks to invest in according to analysts. On July 14, BofA Securities reaffirmed its Underperform rating and $29 price target for KHC, despite reports that the company may split into two units—grocery and sauces/spreads.

The proposed split would follow recent board changes aimed at boosting shareholder value, with the grocery unit accounting for 55% of sales ($14B) and the Taste Elevation division contributing the remaining 45% ($11B). Key brands in the grocery unit would include Kraft, Oscar Mayer, and Lunchables, while the Taste Elevation arm would feature Heinz and Philadelphia.

The Kraft Heinz Company (NASDAQ:KHC) is a multinational food and beverage manufacturer with well-known brands, including Oscar Mayer and Kraft. In 2022, it partnered with NotCo, a Chilean food tech company, to form The Kraft Heinz Not Company, a joint venture focused on leveraging AI to develop plant-based and alternative protein products. The partnership includes plans to explore advanced technologies that intersect with lab-grown meat innovation.

While we acknowledge the potential of KHC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 AI Stocks With Huge Upside Potential and 11 Best High Return Penny Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.