Mondelez International (MDLZ) PT Raised to $67 at Berenberg

Berenberg analyst James Targett raised the price target on Mondelez International (NASDAQ: MDLZ) to $67.00 (from $65.00) while maintaining a Buy rating.

The analyst commented, "Mondelez’s Q4 results were in line with consensus expectations, with organic growth up by 3.2%, adjusted operating margins up by 40bp to 16.3% and EPS up by 11% to USD0.67. Guidance for FY21 is in line with the mid-term target of 3%-plus organic growth, high single-digit EPS growth (with an additional 4% tailwind anticipated from FX) and USD3bn-plus FCF. We nudge up our FY21/22 EPS forecasts by 1-2%, and increase our price target to USD67.00."

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