Kraft Foods Inc. Will Split Into Two
Kraft Foods Inc. (NYSE:KFT) announced on Thursday that the company plans to split into two. One will focus on their global snack brands while the other will focused on grocery.
Kraft's Chief Executive Irene Rosenfeld said, "We have built two strong, but distinct portfolios. Our strategic actions have put us in a position to create two great companies -- each with the leadership, resources and strong market positions to realize their potential."
The company will also release their quarterly earnings later today.
Kraft Foods (NYSE:KFT) has a potential upside of 9% based on a current price of $34.3 and an average consensus analyst price target of $37.4.
Kraft Foods Inc. (NYSE:KFT) announced on Thursday that the company plans to split into two. One will focus on their global snack brands while the other will focused on grocery.
Kraft’s Chief Executive Irene Rosenfeld said, “We have built two strong, but distinct portfolios. Our strategic actions have put us in a position to create two great companies — each with the leadership, resources and strong market positions to realize their potential.”
The company will also release their quarterly earnings later today.
Kraft Foods (NYSE:KFT) has a potential upside of 9% based on a current price of $34.3 and an average consensus analyst price target of $37.4.
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