JPMorgan lowered the firm’s price target on Mondelez (MDLZ) to $74 from $75 and keeps an Overweight rating on the shares as part of a Q3 earnings preview. The firm cites slightly lower estimates and group multiples for the target drop. It expects Mondelez to report organic sales growth and earnings slightly below consensus in Q3 de to the company’s comments last month about worse than expected elasticity in Europe and pockets of weakness in emerging markets.
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