Kraft Foods (KFT) is expected to report Q1 earnings after the close on Thursday, May 3, with a conference call scheduled for 5:00 pm ET.
Analysts are looking for a profit of 56c on revenue of $13.05B. The consensus range is 55c-60c for EPS on revenue of $12.77B-$13.30B, according to First Call. About a month ago, the company said its plan to separate into two public companies, a global snacks business and a North American grocery business, remains on-track for completion before the end of this year.
At that time, Barclays raised its price target on Kraft shares to $45 from $42. More recently, JPMorgan upgraded the stock to Overweight based on valuation and its view that the GroceryCo dividend yield could be higher than expectations. Credit Suisse recommended buying Kraft Foods ahead of Thursday's earnings report, saying the company will benefit from falling chocolate and coffee costs. Both JPMorgan and Credit Suisse joined Barclays in setting a $45 price target on Kraft shares. In afternoon trading, Kraft was up about 0.35% to $39.90.