Piper Sandler analyst Michael Lavery lowered the firm’s price target on Mondelez to $78 from $81 and keeps an Overweight rating on the shares. The firm lowered its 2024 EPS estimate to $3.51 from $3.53 and its 2025 EPS view to $3.65 from $3.80, citing “sticky” elevated cocoa costs as well as U.S. promotional levels that it expects to revert to pre-pandemic historical levels.
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