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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDLZ:
- Mondelez price target lowered to $65 from $69 at UBS
- Mondelez price target lowered to $71 from $73 at Morgan Stanley
- Mondelez International: Strategic Adjustments and Cost Reductions Support Buy Rating Amid Short-Term Challenges
- Berkshire to acquire OxyChem, OpenAI reaches $500B valuation: Morning Buzz
- Nike upgraded, RH downgraded: Wall Street’s top analyst calls