H.J. Heinz Company (HNZ) Upgraded to Buy at UBS

H.J. Heinz Company (HNZ) has been upgraded today by the securities research analysts at investment firm UBS which adjusted their performance outlook of H.J. Heinz from a “neutral” rating to “buy.”  UBS also increased their price target for HNZ  from $47 to $62 dollars.  HNZ is down during intraday trading after setting a new 52-week high during yesterday’s trading session.

H.J. Heinz is slated to release their next earnings report on September 1st, 2011 and the current EPS consensus estimate is 76 cents.  Their last earnings report was released on May 26th, 2011 and announced EPS of 69 cents with revenue totaling $2.888 billion which was up 6.0 % year to year.  HNZ is currently trading above its 50 & 200-day moving averages and 2011 is an up year for the company.

The H.J. Heinz Company and its subsidiaries manufacture and market an extensive line of food products throughout the world.  Heinz’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products.  The company has market capitalization of $17,265,000,000 and 321,821,000 shares outstanding.  HNZ has a 52-week high of $55 with the low being $42.88 dollars.

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