In a report published Monday, Deutsche Bank analyst Eric Katzman reiterated a Hold rating on Kraft Foods Group Inc KRFT, and raised the price target from $57.00 to $61.00.
In the report, Deutsche Bank noted, "Though some view mgmt changes as signaling future value creation, we are wary given valuation. We continue to see a tough environment and believe investors are overly optimistic on strategic options. While we view a 3.5% div. yield and solid B/S (2.5x net debt/EBITDA) as providing support, we see fundamental challenges in 2015. HOLD."
Kraft Foods closed on Friday at $66.77.
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