UPDATE: Morgan Stanley Reiterates On Mondelez International On Meaningful Upside

In a report published Wednesday, Morgan Stanley analyst Matthew Grainger reiterated an Overweight rating on

, and raised the price target from $37.00 to $42.00. In the report, Morgan Stanley noted, “We revisit our EPS outlook, increasing 2015/16e by 4%/8% given accelerated margin targets and 2016 coffee accretion. Even with a conservative view on 2016 margins (MSe ~14.5% underlying), we still see meaningful upside and raise our PT from $37 to $42.” Mondelez International closed on Tuesday at $37.85.