J.P. Morgan Upgrades Sara Lee To Overweight

According to J.P. Morgan, Sara Lee

is upgraded to Overweight from Neutral. J.P. Morgan said that it is upgrading Sara Lee to Overweight from Neutral, with a December 2011 target of $23. “Following our meeting with CEO Marcel Smits and executive chairman Jan Bennink, we have a deeper appreciation of the cost and growth opportunities of a company we have largely shunned for the past decade. The likelihood of value creation through the pending split of the company is high, in our view.” Sara Lee closed yesterday at $19.26.