Kraft Heinz plans to discount key items and boost marketing to compete with inflation-weary customers. Kraft Heinz forecasted adjusted earnings per share and organic sales below analyst expectations.

Bernstein analysts led by Alexia Howard revised the price target for Kraft Heinz Company (NASDAQ:KHC) shares, reducing it to $34 from the previous $40, while maintaining an Outperform rating.

A sales drop in the mid-single digits in Kraft Heinz’s fourth quarter and in the low single digits for the year sent the CPG giant’s stock tumbling, but executives have a plan to claw back losses – th ...