Credit Suisse Reiterates Outperform on Mondelez International Following Recent Management Meetings
In a report published Friday, Credit Suisse analyst Robert Moskow reiterated an Outperform rating and $36.00 price target on Mondelez International (NASDAQ: MDLZ).
In the report, Credit Suisse noted, “In our recent meetings with Mondelez management in China, we gained a deeper appreciation for the size of the investment they have made in the region and how well the company is positioned for the long-term growth of per capita consumption of snacks. After years of expanding the breadth of its sales coverage into new cities to increase distribution of Oreos, the company is now transitioning its focus to improving the depth of its distribution in the ‘Hot Zone' where consumers make impulse purchases. This transition enabled the successful launch of Stride gum last year, and we think it has given the company the tools and experience required to eventually launch Cadbury chocolate. We dig deeper into the details of Mondelez' sales force coverage strategy in this report.”
Mondelez International closed on Thursday at $31.19.
Latest Ratings for MDLZ
|Jan 2017||Berenberg||Initiates Coverage On||Buy|
|Nov 2016||Deutsche Bank||Assumes||Hold|
|Sep 2016||JP Morgan||Assumes||Overweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.