Morgan Stanley Starts Mondelez International (MDLZ) at Overweight

Morgan Stanley analyst Megan Clapp initiates coverage on Mondelez International (NASDAQ: MDLZ) with a Overweight rating and a price target of $69.00.

The analyst comments: "We believe MDLZ is well positioned amongst its large-cap food peers in a challenging environment given its exposure to higher-growth geographies and strong brands with durable pricing power. Near-term, we expect an acceleration in topline growth driven by improved market share performance and momentum in its chocolate portfolio driven by stronger pricing growth. Relative valuation expensive vs. history, though we believe warranted, and we see an attractive ~2:1 bull/bear skew. Initiate at OW; $69 PT."

For an analyst ratings summary and ratings history on Mondelez International click here. For more ratings news on Mondelez International click here.

Shares of Mondelez International closed at $64.51 yesterday.

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