Deutsche Bank Reiterates Hold, Raises Price Target On Kraft Foods On 4Q14 Earnings Preview

In a report published Monday, Deutsche Bank analyst Eric Katzman reiterated a Hold rating on Kraft Foods Group Inc (NASDAQ: KRFT), and raised the price target from $57.00 to $61.00.

In the report, Deutsche Bank noted, "Though some view mgmt changes as signaling future value creation, we are wary given valuation. We continue to see a tough environment and believe investors are overly optimistic on strategic options. While we view a 3.5% div. yield and solid B/S (2.5x net debt/EBITDA) as providing support, we see fundamental challenges in 2015. HOLD."

Kraft Foods closed on Friday at $66.77.