UPDATE: UBS Starts Mondelez International (MDLZ) at Buy

March 30, 2022 4:38 AM EDT
Get Alerts MDLZ Hot Sheet
Price: $63.34 +2.01%

Rating Summary:
    24 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 13 | New: 10
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(Updated - March 30, 2022 4:42 AM EDT)

UBS analyst Cody Ross initiates coverage on Mondelez International (NASDAQ: MDLZ) with a Buy rating and a price target of $73.00.

The analyst comments "MDLZ has one of the most attractive portfolio among US Packaged Food producers. Roughly 80% of its sales are in fast growing biscuits and chocolate categories, while 35% of sales are in EM. We believe MDLZ’s portfolio is on more firm footing coming out of COVID given the increase in HH penetration and repeat purchase rate. Meanwhile, we forecast 6% organic growth in EM driven by the long runway for distribution growth, especially in India and China. With the help from additional portfolio reshaping efforts, 4% organic sales growth could be in sight. We believe the stock could-rerate higher if MDLZ can sustain a 4%+ long-term organic growth rate and shrink the gap with PG."

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 $63.06 yesterday.

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