Canaccord Genuity Raises Price Target on Kraft Foods (KRFT)

Canaccord Genuity Raises Price Target on Kraft Foods (KRFT)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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