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Canaccord Genuity Upgrades Mondelez International (MDLZ) to Buy (Earlier)

February 5, 2016 11:41 AM EST
Get Alerts MDLZ Hot Sheet
Price: $71.31 +0.79%

Rating Summary:
    27 Buy, 4 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Canaccord Genuity upgraded Mondelez International (NASDAQ: MDLZ) from Hold to Buy with a price target of $44.

Analyst Alicia Forry commented, "MDLZ disappointed the market yesterday after announcing further actions to adjust the portfolio in 2016 would weigh on the top-line. Following the results, we have cut our EPS estimates by roughly 9% this year and next, excluding the impact of the deconsolidation of Venezuela (a 10c drag on adj. EPS). This is mainly attributable to further SKU rationalisations, softer Snacks markets, a 20bps extra margin headwind from Venezuela, a more conservative view on coffee earnings and updated FX rates. However, beneath the negative headlines there are also many positives that could be easily overlooked."

For an analyst ratings summary and ratings history on Mondelez International click here. For more ratings news on Mondelez International click here.

Shares of Mondelez International closed at $38.02 yesterday.



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