Equities research analysts at UBS AG (NYSE: UBS) raised their price target on shares of Kraft Foods (NASDAQ: KFT ) from $40.00 to $45.00 in a research note issued to investors on Wednesday. They currently have a “buy” rating on the company’s shares.
Separately, analysts at Stifel Nicolaus raised their price target on shares of Kraft Foods from $39.00 to $42.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Also, analysts at Ticonderoga raised their price target on shares of Kraft Foods from $37.00 to $42.00 in a research note to investors on Friday, January 6th. They now have a “buy” rating on the stock.
Kraft Foods Inc. (Kraft Foods) manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products. It sells the products to consumers in approximately 160 countries. The Company operates three segments: Kraft Foods North America, Kraft Foods Europe and Kraft Foods Developing Markets. At December 31, 2009, the Company had operations in more than 70 countries and made the products at 159 manufacturing and processing facilities globally. At December 31, 2009, the Company’s portfolio included nine brands, including Kraft cheeses, dinners and dressings; Oscar Mayer meats; Philadelphia cream cheese; Maxwell House and Jacobs coffee; Nabisco cookies and crackers and its Oreo cookie brand; Milka chocolates; and LU biscuits. On August 4, 2008, Kraft Foods completed the split-off of the Post cereals business into Ralcorp Holdings, Inc. In February 2010, the Company announced that it has acquired the control of Cadbury plc.
Shares of Kraft Foods traded up 1.18% during mid-day trading on Wednesday, hitting $38.58. Kraft Foods has a one year low of $30.21 and a one year high of $38.53. The stock’s 50-day moving average is $37.02 and its 200-day moving average is $35.22. The company has a market cap of $68.161 billion and a P/E ratio of 20.80.