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Morgan Stanley has initiated coverage on Kraft Heinz, assigning an Underweight rating with a price target of $29, citing concerns over sales trends and margin pressures despite a solid gross profit margin of 34.7%. The stock, currently trading at $29.52, has seen a 16% decline over the past year, underperforming its peers. Analysts highlight the company's attractive 5.42% dividend yield but anticipate continued operational challenges, leading to a negative risk-reward scenario.
Julien Scemama has joined SocGen in Paris as the head of its equity private placements team in EMEA, moving from BNP Paribas in London. With private placements gaining traction as a preferred fundraising method for corporates, banks are bolstering their teams in this area, reflecting a growing trend in private capital.
Houlihan Lokey and Deutsche Bank have successfully advised on the sale of Stonehill Environmental Partners, a company focused on environmentally friendly water recycling and disposal solutions for energy clients. The transaction, which closed on March 11, follows significant organic growth since Golden Gate Capital's investment in 2021, with earnings quadrupling through new and existing contracts. Stonehill's leadership, including CEO Jay Parkinson, expressed gratitude for the partnership with Golden Gate, highlighting the company's establishment as a leader in the environmental services sector.
Assetmark Inc. now holds 9,813 shares of Houlihan Lokey, valued at $1,551,000, after acquiring 9,433 shares last quarter. The company, which specializes in investment banking services, has a consensus rating of "Hold" with a price target averaging $189.40, while UBS Group recently raised its target to $230. Despite a "Reduce" rating from analysts, institutional ownership stands at 78.07%.
Houlihan Lokey, Inc. is a global investment bank that specializes in mergers and acquisitions, capital markets, financial restructuring, and valuation consulting. Its operations are divided into three segments: Corporate Finance, which offers advisory services; Financial Restructuring, focusing on recapitalization and distressed transactions; and Financial & Valuation Advisory, which provides asset valuations, including for illiquid businesses and intellectual property. The firm also delivers technology-driven valuation and analysis services.
Houlihan Lokey, Inc. is a global investment bank specializing in mergers and acquisitions, capital markets, financial restructuring, and valuation advisory. Its operations are divided into three segments: Corporate Finance, which offers general advisory and M&A services; Financial Restructuring, which assists in recapitalization and distressed transactions; and Financial and Valuation Advisory, focusing on asset valuations and technology-based analysis services.
Northvolt AB, the troubled electric-vehicle battery manufacturer, has engaged Houlihan Lokey Inc. as a financial adviser to secure funding for a turnaround. The Swedish company recently filed for bankruptcy protection in the US after unsuccessful negotiations with stakeholders, leading to the resignation of co-founder Peter Carlsson as CEO.
Wellful Inc., the owner of Jenny Craig and Nutrisystem, is facing significant financial challenges, struggling to cover loan interest amid rising competition from drugs like Ozempic. The company is consulting with experts and creditors to explore options for addressing its debt, enlisting investment bank Houlihan Lokey Inc. to assist in the process.
Houlihan Lokey, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Morgan Stanley assigns underweight rating to Kraft Heinz with $29 price target
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