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UPDATE: Deutsche Bank Downgrades Kraft Foods

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In a note released before the market open on Thursday, Deutsche Bank analyst Eric Katzman downgraded shares of Kraft Foods (NASDAQ: KRFT) from Buy to Hold and lowered the price target from $62 to $59.

Katzman noted that, despite what he sees as limited downside, he is moving to the sidelines due to challenging fundamentals. He added that, in his view, Kraft is pursuing the right long-term goals, but developments in the U.S. industry, as well as some internal missteps are placing prudent goals at risk.

Based on these concerns, Katzman has lowered his fiscal 2014 EPS estimate from $3.28 to $3.21 and said the annual goal of 90 percent free cash flow efficiency seems difficult to achieve given "sluggish" sales, high inventory and second half-weighted capital expenditures.

Latest Ratings for KRFT

DateFirmActionFromTo
Apr 2015Stifel NicolausMaintainsBuy
Mar 2015CitigroupMaintainsSell
Mar 2015Canaccord GenuityUpgradesHoldBuy

View More Analyst Ratings for KRFT
View the Latest Analyst Ratings

 

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Posted-In: Deustche Bank Eric KatzmanAnalyst Color Downgrades Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
GDWolfe ResearchDowngrades
QRTEAB of A SecuritiesInitiates Coverage On
ABB of A SecuritiesDowngrades42.0
VCTRB of A SecuritiesUpgrades32.0
BSIGB of A SecuritiesUpgrades27.0
View the Latest Analytics Ratings
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