Sara Lee (fka SLE)

[sarals]

RESEARCH ALERT-JP Morgan rates Sara Lee 'market perform'
NEW YORK, Jan 18 (Reuters) - JP Morgan on Friday said it began coverage of food and household goods conglomerate Sara Lee Corp. (NYSE:SLE - news) with a ``market perform'' rating and a $22 a share 12-month price target, citing the company's potential ``to leverage existing brands'' and improve returns.

Chicago-based Sara Lee has ``largely completed the reshaping program that began in May 2000, which resulted in greater-than-expected proceeds in excess of $3 billion, but this represents only the initial stage of a long-term transformation,'' wrote the firm its coverage note.

The stock gained 5 cents to $21.58 in early trade.

http://biz.yahoo.com/rf/020118/n1i258175_2.html