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UPDATE: Jefferies Downgrades Mondelez International to Hold Post Spin-Off

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Jefferies reduced its rating on Mondelez International (NASDAQ: MDLZ) from Buy to Hold and lowered its price target from $48 to $28.

Jefferies said, "We are downgrading newly renamed Mondelez (formerly known as Kraft) to Hold on concerns about the near term growth outlook. Even though we believe that the company is well positioned to achieve its LT double-digit EPS growth target, we do not believe that the stock will outperform over the next 12 months. Instead, we see more value in Kraft Foods (KRFT). We are therefore downgrading MDLZ to Hold with a new – post-spin-off – PT of $28."

Mondelez International closed at $26.51 on Monday.

Latest Ratings for MDLZ

DateFirmActionFromTo
Sep 2016JP MorganReinstatesOverweight
Jul 2016Morgan StanleyMaintainsOverweight
Jul 2016UBSMaintainsBuy

View More Analyst Ratings for MDLZ
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Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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