Jefferies Upgrades Kraft Foods (KFT) to Buy, Sees Sum of Parts Worth $44-$48
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Price: $42.52 --0%
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade KFT Now!
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, with a 52 week range of $31.88-$40.89.
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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, with a 52 week range of $31.88-$40.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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