Deutsche Bank Reiterates Hold Rating On Kraft Foods

According to Deutsche Bank, Kraft Foods KFT Hold rating is reiterated. Deutsche Bank said that although core Kraft is performing a bit better than expected, the concern regarding Cadbury was reinforced in the 1Q11. “While we believe in the LT potential for snacks & confection, Kraft appears to be struggling with what cost $19 billion 1+ year ago. We retain our HOLD opinion as a 4% dividend yield offsets concerns over higher leverage and lower EPS.” Kraft Foods closed yesterday at $33.39.