Kraft Foods Upgraded to “Overweight” at JP Morgan (KFT)

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Packaged foods giant Kraft Foods Inc ( KFT ) on Monday caught a big upgrade from analysts at JP Morgan Chase.

The firm said it boosted its rating on KFT from "Neutral" to "Overweight" with a $45 price target, suggesting a 14% upside to the stock's Friday closing price of $39.40. JP Morgan noted that recent Nielsen data indicates positive numbers for the company, and that it expects further dividend increases in the near term.

Kraft Foods shares rose 50 cents, or +1.3%, in premarket trading

The Bottom Line
Shares of Kraft Foods ( KFT ) have a 2.94% dividend yield, based on Friday's closing stock price of $39.40. The stock has technical support in the $36-$37 price area. If the stock can firm up, we see overhead resistance around the all-time highs of $40-$43 a share.

Kraft Foods Inc ( KFT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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Referenced Stocks: KFT

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