Jefferies Upgrades Kraft Foods (KFT) to Buy, Sees Sum of Parts Worth $44-$48

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.

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