Citigroup, Inc (NYSE: C) Reiterates “Buy” Rating on HJ Heinz (NYSE: HNZ)

Analyst at Citigroup, Inc’s (NYSE: C) equities research division gave shares of HJ Heinz Co (NYSE: HNZ) a “buy” rating with a price target of $4.00 citing upside to analysts’ consensus estimates for FY2011 earnings.

H. J. Heinz Company together with its subsidiaries is engaged in manufacturing and marketing a range of food products globally. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products. The Company’s products are manufactured and packaged to provide safe, wholesome foods for consumers, as well as foodservice and institutional customers. The Company manufactures and contracts for the manufacture of its products from a range of raw foods. The Company operates in five segments: North American Consumer Products, Europe, Asia/Pacific, U.S. Foodservice and Rest of World.

Shares of HNZ traded up 0.50% hitting $46.50 during mid-day trading on Thursday.

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