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A number of firms have modified their ratings and price targets on shares of Kraft Foods Group (NASDAQ: KRFT) recently:

  • Kraft Foods Group had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $57.00 price target on the stock, down previously from $58.00.
  • Kraft Foods Group had its “outperform” rating reaffirmed by analysts at Credit Suisse. They now have a $63.00 price target on the stock, down previously from $65.00.
  • Kraft Foods Group was downgraded by analysts at Deutsche Bank from a “buy” rating to a “hold” rating. They now have a $59.00 price target on the stock, down previously from $62.00.
  • Kraft Foods Group was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating.
  • Kraft Foods Group had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $56.00 price target on the stock. Zacks‘ analyst wrote, “Kraft reported dismal second-quarter 2014 results, missing the Zacks Consensus Estimate for both revenues and earnings. Soft volumes, market share losses, rising input costs and a higher effective tax rate hurt earnings. Volume benefit from the Easter shift was offset by lower demand and market share losses as the company implemented significant pricing in response to record high input costs, mainly dairy and meat. In fact, Kraft’s top line has been soft ever since the split from Mondelez due to broader macro pressures. Several of its product categories have been sluggish due to consumption weakness and stiff competition. In addition, rising food costs, increasing competitive pressures and challenging industry conditions concern us. However, Kraft’s strong brand portfolio, aggressive cost reduction and efficiency-improvement initiatives keep our faith in the stock. Moreover, Kraft has significantly increased its advertising investments, new product activity and the quality of its marketing, which could result in better results in future quarters.”

Kraft Foods Group Inc (NASDAQ:KRFT) opened at 54.68 on Friday. Kraft Foods Group Inc has a one year low of $50.54 and a one year high of $61.10. The stock has a 50-day moving average of $58.66 and a 200-day moving average of $56.74. The company has a market cap of $32.478 billion and a price-to-earnings ratio of 13.77.

Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.

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