Kraft Foods’ Price Target Boosted at Citigroup (KFT)

in Gold Gold Investment by admin — March 9, 2010 7:26 am | no comments

Packaged foods giant Kraft Foods Inc. ( KFT ) saw its price target raised on Tuesday by analysts at Citigroup. The analyst lifted its price target for KFT shares, which had closed at $29.17 on Monday, to $36 from $33, citing bullish sentiment from the Cadbury ( CBY ) acquisition. Citigroup set its 2010 and 2011 EPS estimates for the company at $2.10 and $2.35, respectively, and reiterated its “Buy” rating on the stock. Kraft Foods shares rose 20 cents, or +0.7%, in premarket trading Tuesday. The Bottom Line We have been recommending shares of KFT since May 5, when the stock was trading at $24.26. The company has a 3.98% dividend yield, based on last night’s closing stock price of $29.17. Kraft Foods Inc. ( KFT ) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 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 .