date:Jul 08, 2013
Notwithstanding good growth in the large U.S. and European biscuit business of Mondelēz International, Credit Suisse is lowering its earnings forecast for the company.
Robert Moskow, an analyst with Credit Suisse, cited Nielsen data indicating mid-single digit growth in the U.S. biscuit business and low single-digit growth in Europe but noted chewing gum sales are under pressure.
Additionally, Mr. Moskow expressed concern about slowing growth in emerging markets, including Brazil and China.