UPDATE: Stifel Nicolaus Raises PT to $44 on Kraft Foods on Growth, Earnings
Stifel Nicolaus raises its price target from $42 to $44 on Buy-rated Kraft Foods (NYSE: KFT) on the investment, growth and earnings trifecta.
Stifel Nicolaus says, "Kraft Foods reported a strong start to the year with EPS up +10% to $0.57, which was $0.02 ahead of our estimate and $0.01 ahead of the consensus estimate. The quarter featured strong organic revenue growth, near double-digit segment operating profit growth, and a heavy investment in marketing and its emerging market infrastructure."
KFT closed at $39.59 on Thursday.
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