UPDATE: Credit Suisse Raises PT on Mondelez International on Chewing Gum Business Potential

In a report published Wednesday, Credit Suisse analyst Robert Moskow reiterated an Outperform rating on Mondelez International

, and raised the price target from $31.00 to $33.00. In the report, Moskow noted, “The consensus view on Mondelez's chewing gum business (9% of sales) is that it is a drag on the company's sales growth which is about to get worse due to lack of management commitment and investment. Our deep dive into the chewing gum category and the results of our proprietary consumer survey indicates that gum actually can be a significant contributor to Mondelez's growth rate if the company follows the strategies we outline in this report.” Mondelez International closed on Tuesday at $30.63.