UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Kraft Foods

In a report published Monday, J.P. Morgan & Co. reiterated its Overweight rating on Kraft Foods

, but lowered its price target from $46.00 to $43.00. J.P. Morgan noted, “Following the 5.5% decline last Friday (SPX +0.4%), and recognizing that the company's future offspring (MDLZ and KRFT) start trading when-issued in only a week, we maintain our Overweight rating on the KFT stock. In our view, while last week's investor days resolved some open issues, they also raised some questions...Overall we remain constructive on the shares over the long run and think guidance is conservative.” Kraft Foods closed on Friday at $39.99.