Kraft to build biscuit factory in Ukraine

Kraft Foods announced that it will invest $36 million by the end of the year to build a new biscuit factory in Ukraine, according to Taras Lukachuk Kraft CEO for Ukraine, Central and Eastern Europe.

The new factory will be based in central Ukraine and will start operating in the fourth quarter of this year, reported Bloomberg.

Currently, Kraft has two plants in the Central Ukraine area that produce coffee and chocolate.

The company has a potential upside of 14.3% based on a current price of $34.39 and an average consensus analyst price target of $39.31. It is currently below its 50-day moving average (MA) of $34.66 and should find support at its 200-day MA of $32.72.

In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.16%.