Mondelez price target lowered to $56 from $63 at Piper Sandler

Piper Sandler lowered the firm’s price target on Mondelez (MDLZ) to $56 from $63 and keeps a Neutral rating on the shares. While Mondelez had lower than expected guidance for 2025, investor focus is already primarily shifted to its 2026 outlook. While its 2025 cocoa costs are locked, 2026 remains to be secured. Cocoa costs look unlikely to get much worse from current levels, and are likely to come down, but Mondelez plans to take pricing opportunistically to catch up with already-elevated costs, Piper adds.