UPDATE: Cowen Starts Mondelez International (MDLZ) at Outperform

Cowen analyst Brian Holland initiates coverage on Mondelez International (NASDAQ: MDLZ) with a Outperform rating and a price target of $71.00.

The analyst comments "We are constructive on Mondelez amidst the current valuation disconnect. Our analysis shows the company boasts advantaged consumer (emerging markets) and category (snacking) exposure, as well as relatively low private label penetration. Further, we see plenty of ammunition (op ex leverage, strong FCF) to support our above consensus outlook through reinvestment (advertising, cap ex) and M&A."

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 $59.88 yesterday.

You May Also Be Interested In

• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• New Street Research Upgrades Micron Technology (MU) to Buy
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald