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Morgan Stanley Analyst Dismisses Holiday Noise in Kraft Earnings

Shares of Kraft Foods are slipping on Friday after the company reported revenue that fell more than 3% from a year ago. Kraft said revenue fell to about $4.3 billion as the timing of this year's Easter holiday pushed shipments for holiday-related products to the second quarter. Morgan Stanley analyst Matthew Grainger calls Kraft's results "business as usual" with additional holiday "noise." He reiterated the Overweight rating he has on the stock with a $60 price target.