Deutsche Banc Alex. Brown analyst Eric Katzman initiated research coverage of Kraft Foods Inc. (NYSE: KFT; $30.65) with a BUY investment rating and 12-month target price of $35.
Katzman’s BUY rating on the shares of Kraft is based on the following key investment attributes:
- Global scale and pricing potential;
- Leading and well-recognized brands;
- Retail relationships in 140 countries;
- Compelling financials;
- Benefits from the recent Nabisco acquisition; and
- A focus on productivity and innovation.
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“Kraft is well positioned to become a top performer among food and other leading global consumer names by fulfilling investor expectations with solid fundamental performance over the next few quarters,” said Katzman.
Deutsche Banc Alex. Brown represents the Investment Banking activities of Deutsche Banc Alex. Brown Inc. (US) and Deutsche Bank Securities Ltd. (Canada). Deutsche Banc Alex. Brown and Deutsche Bank Securities Ltd. are subsidiaries of Deutsche Bank AG. With assets of about Euro 940 billion and more than 98,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world in over 60 countries. It ranks among the leaders in asset management, capital markets, corporate finance, custody, cash management and private banking. Deutsche Bank is organized in two customer-oriented Groups: “Corporate and Investment Bank” (CIB) and “Private Clients and Asset Management” (PCAM). The keys to the Bank’s success remain constant: customer focus, the spirit of innovation, a broad range of product skills combined with technological power and financial strength delivered by highly skilled professionals.
Within the past three years, Deutsche Banc Alex. Brown Inc. has managed or comanaged a public offering of Kraft Foods Inc.
Information herein is believed to be reliable and has been obtained from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Opinions, estimates, and projections constitute our judgement and are subject to change without notice. This publication is provided to you for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Deutsche Banc Alex. Brown Inc. and its affiliates worldwide, may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer. Transactions should be executed through a Deutsche Bank entity in the client’s home jurisdiction unless otherwise permitted by law. Deutsche Banc Alex. Brown Inc. is a member of NYSE and NASD.
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