Story updated at 9:50 a.m. with market information.
Shares of Mondelez gaine 1.3% to $33.65 in morning trading Thursday.
The analyst firm maintained its "neutral" rating for the company, but also lowered its estimates through 2015.
The firm wrote, "Following MDLZ's rather messy 4Q results, we are lowering our target price to $35 to reflect an 18x P/E multiple against our 2015 estimate of $1.88 (down from $1.92). We are lowering our 2014 EPS estimate to $1.68 (down from $1.71), which represents the middle of management's EPS guidance for 2014 (including 7c FX headwind)."
Separately, TheStreet Ratings team rates MONDELEZ INTERNATIONAL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONDELEZ INTERNATIONAL INC (MDLZ) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: