Kraft Foods (KRFT) Numbers Raised at Jefferies
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Price: $88.19 --0%
Rating Summary:
7 Buy, 6 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 5
Rating Summary:
7 Buy, 6 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 5
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Jefferies reiterated its Buy rating and raised its price target on Kraft Foods Group (NASDAQ: KRFT) from $52 to $60 citing its strong operator status and more improvement potential.
Analyst Thilo Wrede comments, "We continue to see KRFT as one of the best operators in the US packaged food industry. While the CY12-CY14 earnings growth is limited, it might accelerate at the tail end as restructuring costs are starting to decline. In addition, KRFT'’s industry leading 3.8% dividend yield should make the name attractive for investors looking for a fixed income alternative."
The firm cut Q2 EPS from $0.87 to $0.67, raised FY13 EPS from $2.73 to $2.78 and raised FY14 EPS from $2.90 to $3.17.
For an analyst ratings summary and ratings history on Kraft Foods Group click here. For more ratings news on Kraft Foods Group click here.
Shares of Kraft Foods Group closed at $53.11 yesterday.
Analyst Thilo Wrede comments, "We continue to see KRFT as one of the best operators in the US packaged food industry. While the CY12-CY14 earnings growth is limited, it might accelerate at the tail end as restructuring costs are starting to decline. In addition, KRFT'’s industry leading 3.8% dividend yield should make the name attractive for investors looking for a fixed income alternative."
The firm cut Q2 EPS from $0.87 to $0.67, raised FY13 EPS from $2.73 to $2.78 and raised FY14 EPS from $2.90 to $3.17.
For an analyst ratings summary and ratings history on Kraft Foods Group click here. For more ratings news on Kraft Foods Group click here.
Shares of Kraft Foods Group closed at $53.11 yesterday.
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