Soleil Securities Initiates Coverage on Kraft Foods (KFT) with a Hold
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Soleil Securities initiates coverage on Kraft Foods (NYSE: KFT) with a Hold. Price target $34.
Soleil analyst says, "Although truly improving its products with better flavors and varieties, packaging and some upgrades to food quality, we believe it is too soon to rely on these early efforts to support high levels of pricing needed to offset significant input cost inflation, especially in biscuits and cheese(20% of sales)."
Kraft Foods Inc. (Kraft) through its subsidiaries, is engaged in the manufacture and sale of packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products.
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