Robert Moskow, an analyst from TD Cowen, maintained the Buy rating on Mondelez International. The associated price target remains the same with $75.00.
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Robert Moskow has given his Buy rating due to a combination of factors influencing Mondelez International’s performance. Despite lowering the third-quarter organic sales and earnings per share (EPS) estimates due to adverse weather conditions affecting chocolate sales in Europe, Moskow maintains a positive outlook for the full year. This optimism is supported by anticipated higher pricing in North America and favorable currency impacts in the fourth quarter.
Furthermore, Moskow highlights the potential for improved earnings in the fourth quarter, driven by favorable foreign exchange rates and strategic pricing actions in North America. He also notes a better price-cost relationship in chocolate sales compared to the previous year. The price target of $75 per share, reflecting a premium price-to-earnings multiple, suggests confidence in the company’s ability to capitalize on these factors, especially if cocoa costs decrease.
In another report released today, Barclays also maintained a Buy rating on the stock with a $77.00 price target.