Mondelez International (MDLZ) PT Raised $1 to $68 at Jefferies Post Earnings
- S&P 500 closes at record high as Apple, healthcare stocks help shrug off Delta worries
- Tencent (TCEHY) Falls Sharply as State Media Describes Online Games as ‘Spiritual Opium’, Company Vows to Improve
- Oil settles lower in volatile trade on worries about Delta variant
- Clorox (CLX) Falls Sharply as COVID-19 Demand Wanes
- Dollar steadies as markets weigh economic risks, central bank moves
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Jefferies analyst Rob Dickerson raised the price target on Mondelez International (NASDAQ: MDLZ) to $68.00 (from $67.00) after organic sales growth topped expectations once again with a 3.8% y/y Q1 print (vs 0.9% consensus), leading to an approximate ~300-bp y/y acceleration on a 2YR stacked basis when compared to Q4. EM strength drove the beat not only on the top line, but also on operating profit, as AMEA and LatAM accounted for roughly 85% of the operating profit beat relative to consensus, which led to a company-high 17.9% operating margin in the quarter.
The analyst reiterated a Buy rating, stating "We’ve increased our 2021 EPS forecast by $0.10 and our 2022 and 2023 estimates by $0.05 each, driven by ongoing momentum in the business. Our ~1% bump in 2022 and 2023 takes our PT up by $1 to $68. We continue to view MDLZ as the leading large-cap defensive with accelerated growth potential in U. food".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Neurocrine Bio. (NBIX) PT Raised to $138 at Stifel; Nice Ingrezza Beat and Better TRx Commentary
- Space Shots Drive a Massive Northrop Grumman (NOC) Beat - Jefferies
- Teledyne (TDY) PT Raised to $530 at Jefferies as 2021 Results Continue to Strengthen
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!