Jefferies Upgrades Kraft Foods (KFT) to Buy, Sees Sum of Parts Worth $44-$48
Get Alerts KFT Hot Sheet
Price: $42.52 --0%
Rating Summary:
6 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Jefferies upgraded Kraft Foods (NASDAQ: KFT) from Hold to Buy with a price target of $48.00 (from $41.00).
Analyst Scott A. Mushkin comments: "We are upgrading KFT to Buy as the business seems to weather the current economic turmoil better than peers and a clear timeline for the break-up is set. We expect the separate companies to accelerate their growth in FY13 after a year of investments and restructuring. Our sum of the parts analysis values KFT at $44-$48, with $12 attributed to the North American grocery business and $36 to Global Snacks."
For an analyst ratings summary and ratings history on Kraft Foods click here. For more ratings news on Kraft Foods click here.
Shares of Kraft Foods closed at $40.51 yesterday.
Analyst Scott A. Mushkin comments: "We are upgrading KFT to Buy as the business seems to weather the current economic turmoil better than peers and a clear timeline for the break-up is set. We expect the separate companies to accelerate their growth in FY13 after a year of investments and restructuring. Our sum of the parts analysis values KFT at $44-$48, with $12 attributed to the North American grocery business and $36 to Global Snacks."
For an analyst ratings summary and ratings history on Kraft Foods click here. For more ratings news on Kraft Foods click here.
Shares of Kraft Foods closed at $40.51 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
- BofA Securities Upgrades Tesla (TSLA) to Buy on wind up of positive catalysts
Create E-mail Alert Related Categories
Hot Upgrades, UpgradesRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!