UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on Mondelez International Following Messy 4Q Results

In a report published Thursday, Credit Suisse analyst Robert Moskow reiterated a Neutral rating on

, but lowered the price target from $37.00 to $35.00. In the report, Credit Suisse noted, “Following MDLZ's rather messy 4Q results, we are lowering our target price to $35 to reflect an 18x P/E multiple against our 2015 estimate of $1.88 (down from $1.92). We are lowering our 2014 EPS estimate to $1.68 (down from $1.71), which represents the middle of management's EPS guidance for 2014 (including 7c FX headwind).” Mondelez International closed on Wednesday at $33.21.