Canaccord Genuity Raises Price Target on Kraft Foods (KRFT)
Canaccord Genuity reported on Wednesday that it has raised its price target on food and beverage company, Kraft Foods Group Inc (KRFT).
The firm, which currently has a “Buy” rating on KRFT has raised its price target on the company to $56. This price target suggests a 9% increase from the stock’s current price of $50.91.
Analysts have also raised estimates on the KRFT, based on the company’s cost cutting.
Kraft shares were down 52 cents, or -1.01% during Wednesday morning trading. The stock has increased 13% in the past year.
The Bottom Line
Shares of Kraft Foods Group Inc (KRFT) have a 3.93% yield, based on Wednesday morning’s price of $50.93.
Kraft Foods Group Inc (KRFT) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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