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Morgan Stanley Sees Balanced Start To 2014 For Kraft Foods Group

In a report published Friday, Morgan Stanley analyst Matthew Grainger reiterated an Overweight rating and $60.00 price target on Kraft Foods Group (NASDAQ: KRFT).

In the report, Morgan Stanley noted, “While organic sales of -2.4% (+0.5% ex-timing factors) may have been below consensus, we believe it was broadly in line with investor expectations. Given both higher pricing and perhaps ~200 bps of Easter timing benefit, Q2 should be much improved (MSe 4%) and offer a stronger normalized indicator across 1H. Cheese results were also encouraging, offsetting weakness across a number of other segments (we would hope to see a more balanced profile going forward).”

Kraft Foods Group closed on Thursday at $56.69.

Latest Ratings for KRFT

DateFirmActionFromTo
Dec 2014Bank of AmericaMaintainsBuy
Oct 2014Credit SuisseDowngradesOutperformNeutral
Oct 2014Deutsche BankMaintainsHold

View More Analyst Ratings for KRFT
View the Latest Analyst Ratings

Posted-In: Matthew Grainger Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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