Bank of America Merrill Lynch Maintains Buy on Kraft Foods

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