Food products maker H.J. Heinz Company ( HNZ ) on Thursday caught a big upgrade from analysts at UBS.
The firm said it boosted its rating on HNZ from "Neutral" to "Buy" with a $62 price target. That target suggests a 15% upside to the stock's Wednesday closing price of $53.72.
UBS noted it believes that Heinz will deliver better-than-expected earnings growth over the next several quarters.
Heinz shares were mostly flat in premarket trading Thursday.
The Bottom Line
We have been recommending shares of H.J. Heinz ( HNZ ) since Jan.24, 2009, when the stock was trading at $35.06. The company has a 3.57% dividend yield, based on last night's closing stock price of $53.72.
H.J. Heinz Company ( HNZ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.7 out of 5 stars.
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