Piper Sandler analyst Michael Lavery lowered the firm’s price target on Mondelez to $76 from $78 and keeps an Overweight rating on the shares. The firm assumes elevated cost levels remain for longer coming out of the company’s Q2 report. Cocoa futures remain elevated, but better visibility is coming in September, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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:
- Mondelēz International to Participate in Barclays Global Consumer Staples Conference on September 4, 2024
- Kellanova jumps as Street reacts to Mars takeover reports
- Mondelez price target lowered to $75 from $81 at DA Davidson
- Mondelez price target raised to $78 from $76 at Piper Sandler
- Mondelez backs FY24 adjusted EPS view up high single digits