Bank of America Merrill Lynch Maintains Buy on Kraft Foods

Bank of America Merrill Lynch is out with its report today on Kraft Foods

, maintaining Buy. In its report, Bank of America Merrill Lynch writes, "Our Buy thesis is based on our belief that the company has transitioned from a slow growth domestic focused food company to a faster growing snack oriented multinational. We believe this will cause an expansion of the KFT multiple to be more in-line with other consumer packaged goods multinationals." Bank of America Merrill Lynch maintains a $40 PO on KFT. Shares of KFT closed Friday' at $33.45, down 1.06% from Thursday's close.