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Jefferies upgrades Kraft Foods (KFT) to Buy from Hold after crunching the numbers and seeing an...

Jefferies upgrades Kraft Foods (KFT) to Buy from Hold after crunching the numbers and seeing an attractive sum-of-the-parts valuation. Analyst Scott Mushkin sees the split off grocery and snack foods companies accelerating their growth in FY13 after a round of investments and restructuring kicks in. With a $48 price target on KFT, Jefferies calls for 20% upside potential.
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