Deutsche Bank Has Hold On Kraft Foods

Deutsche Bank has a Hold rating and a $33 price target on shares of Kraft Foods KFT. In a note to clients, Deutsche Bank writes, "We remain cautious about Kraft's fundamentals and reiterate our $33 target. A combination of gum category weakness, loss of mgmt. talent, competitive conditions in key categories, questions about elasticity vs. pricing / inflation and debt reduction post Cadbury that is behind initial goals, make us wary. These concerns offset support from a 3%+ dividend yield and LT opportunity associated with global confection and snacks. Retain Hold." Shares of KFT lost 32 cents on Friday to close at $34.10, a loss of 0.9%.