RBC Capital Reiterates Outperform on Mondelez Int'l (MDLZ) Following In-Line 3Q Results

RBC Capital reiterated an Outperform rating and $51.00 price target on Mondelez International (NASDAQ: MDLZ) following the company's 3Q earnings results. MDLZ reported EPS of $0.42 relatively in-line with consensus' $0.41.

Analyst David Palmer commented, "Following 3Q EPS that was in line with our estimate ($0.42 vs. RBCe $0.42; cons. $0.41), we are increasing our 2016e and 2017e EPS slightly and maintaining our $51 price target. This earnings adjustment reflects better gross margin forecasts driven by increases in promotion efficiency and ongoing productivity."

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 $46.40 yesterday.

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