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Analysts at Morgan Stanley increased their price target on shares of Mondelez International (NASDAQ:MDLZ) from $37.00 to $42.00 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 10.96% from the company’s current price.

The analysts wrote, “We revisit our EPS outlook, increasing 2015/16e by 4%/8% given accelerated margin targets and 2016 coffee accretion. Even with a conservative view on 2016 margins (MSe ~14.5% underlying), we still see meaningful upside and raise our PT from $37 to $42.”

Shares of Mondelez International (NASDAQ:MDLZ) traded down 0.24% on Wednesday, hitting $37.76. 2,533,584 shares of the company’s stock traded hands. Mondelez International has a one year low of $28.22 and a one year high of $38.47. The stock’s 50-day moving average is $35.26 and its 200-day moving average is $34.37. The company has a market cap of $64.343 billion and a P/E ratio of 19.00. Mondelez International also was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 19,377,570 shares, a growth of 6.6% from the April 15th total of 18,170,774 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 8,439,654 shares, the days-to-cover ratio is presently 2.3 days.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The company had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that Mondelez International will post $1.72 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Mondelez International in a research note on Thursday, May 8th. They now have a $40.00 price target on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Mondelez International in a research note on Thursday, May 8th. They now have a $44.00 price target on the stock, up previously from $37.00. Finally, analysts at RBC Capital raised their price target on shares of Mondelez International from $36.00 to $40.00 in a research note on Thursday, May 8th. They now have a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Mondelez International has an average rating of “Hold” and a consensus price target of $36.38.

Mondelez International, Inc (NASDAQ:MDLZ), is a snack manufacturing company.

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