Mondelez price target lowered to $78 from $82 at Wells Fargo

Wells Fargo analyst Chris Carey lowered the firm’s price target on Mondelez (MDLZ) to $78 from $82 and keeps an Overweight rating on the shares. The firm notes that with management saying it’ll be tough to grow EPS in 2025, then factoring a -7c impact from JDEP on top, the net is EPS will be down but per management “not down massively…just will be hard to grow.” With organic sales solid and likely climbing and a price-to-earnings reasonable on 2025/trough on 2026, Mondalez probably gets some looks, Wells adds.