Mondelez (MDLZ) PT Raised to $49 at RBC Capital

RBC Capital analyst David Palmer reiterated an Outperform rating and lifted his price target on Mondelez International (NASDAQ: MDLZ) to $49.00 (from $43.00) following strong Q2 results.

"We believe Mondelez is transitioning into phase of better revenue trends and reinvestment, which could make Mondelez one of a few large cap branded companies to be driving profitable growth," Palmer said.

The firm is boosting 2015e and 2016e EPS estimates from $1.69 and $2.05 to $1.78 (+1% YOY; $1.72 cons.) and $2.06 (+16% YOY; $2.01 cons.) based on: 1) gross margin improvement, 2) the sale of its coffee business, and 3) ongoing 3-4% organic revenue growth.

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 $45.27 yesterday.

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