JP Morgan Reviews Kraft Before Breakup

J.P. Morgan has published a research report on Kraft Foods (NYSE: KFT) after the announcement that the food maker would split into two companies.

In the report, J.P. Morgan wrote, "Kraft Foods announced a plan to split into its North American Grocery business and its Global Snacks business. The company also reported adjusted EPS of $0.62, ahead of the consensus estimate of $0.58 and a penny below our $0.63 estimate. Full-year 2011 guidance was raised to at least EPS of $2.25 and organic growth of 5% compared to previous guidance of at least EPS of $2.20 and organic growth of 4%."

J.P. Morgan rated Kraft a Neutral with a price target of $36.00. Kraft closed Thursday at $33.78.