DJIA Component Kraft (Mondelez) Hits 52-Week High
Kraft Foods Inc. (NASDAQ: KFT) may sound like a strange restructuring name ahead of its split when the company will become Mondelez. It sounds like a casino, but investors are snapping shares up. In fact, the food giant’s share price…
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A review of a chart going back 10 years shows that Kraft might theoretically have strong resistance if shares hit $42.00 or $43.00.
The stock’s prior 52-week high was $41.90 and the high today was $42.00. Analysts still have a consensus price target objective of $44.12, according to Thomson Reuters, and Yahoo! Finance lists Kraft’s new market value at $74.4 billion.
The only real remaining question we have now (outside of that silly future name) is which other public company, or if another, will replace Kraft as one of the 30 Dow Jones Industrial Average components.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
