LONDON (Reuters) - Cadbury Chief Executive Todd Stitzer said the British confectioner could be worth more than 10 pounds a share by 2013, in an interview published in the Daily Telegraph's Monday edition.
"You can find some analysts who believe that if we deliver at the mid-point of our 2013 targets, our share price will be comfortably over 10 pounds," Stitzer said.
"That's the world we're shooting for. We think there is that kind of value that exists in our business," he added.
CADBURY (CBRY.LO)has rejected a hostile bid of 10.5 billion pounds ($17.1 billion) from Kraft Foods, which values the firm at less than its closing price on Friday of 793.5 pence a share.
Cadbury's second largest shareholder, Legal & General Investment Management
A rival bid of at least 800 to 820 pence, or $17.9 billion, could emerge this week from U.S.-based confectioner Hershey
Under British takeover rules, Kraft has until January 19 to raise its bid.
Analysts and investors believe that Kraft will need to increase its bid to 800p or above to succeed.
The Financial Times said Kraft would raise its bid by adding more cash and could announce the move as soon as Monday.
Earlier this month, Kraft lifted the cash portion of its offer by 60 pence but kept the overall value unchanged.
(Reporting by Tim Castle; Editing by Leslie Adler)
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