Mondelez price target lowered to $54 from $61 at Wells Fargo

Wells Fargo lowered the firm’s price target on Mondelez (MDLZ) to $54 from $61 and keeps an Equal Weight rating on the shares. The firm expects Street EPS to come down low double digits in 2025 and high teens in 2026, following a major reset to recalibrate this model to the realities of historical cocoa prices. While Mondelez’s stock needs to recalibrate too, the reset is at least a first step, Wells adds.