Kraft Heinz's Upgrade by Piper Is 'Worrisome,' Jim Cramer Warns
Kraft Heinz shares are down 10% since the start of the year. The stock was upgraded by Piper Jaffray.
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said Kraft Heinz's (KHC) - Get Report upgrade by Piper Jaffray on Friday is 'worrisome' because it means they are ready to make an accretive acquisition.
"They've been ready since the stock was at $97 - it's now in the $70s," Cramer noted, adding that the multiples of the pantry stocks have been shrinking.
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