Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on Mondelez (MDLZ) to $68 from $71 and keeps an Overweight rating on the shares following what the firm calls “a low-quality” Q3 EPS beat. The firm acknowledges “fair pushbacks” on weak year-to-date volume performance, but views this as largely reflected in the stock and expects sequential improvement in volume and mix alongside stable to improving cocoa fundamentals, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDLZ:
- Mondelez price target lowered to $84 from $85 at Bernstein
- Mondelez price target lowered to $69 from $75 at BofA
- Mondelez price target lowered to $63 from $67 at Piper Sandler
- Mondelez price target lowered to $72 from $74 at Wells Fargo
- Mondelez International: Strategic Reinvestments and Market Adjustments Support Buy Rating Amidst Growth Challenges