Stifel analyst Matthew Smith raised the firm’s price target on Mondelez (MDLZ) to $73 from $70 and keeps a Buy rating on the shares. Mondelez reported a stronger-than-anticipated quarter and reiterated 2025 guidance, including a 10% EPS decline on a constant currency basis, as “stubbornly high cocoa prices” are weighing on the business in FY25, the analyst tells investors. Due to the Q1 performance and elimination of forex pressure, the firm is raising its 2025 EPS estimate to $3.03, up 11c from its previous estimate, the analyst noted.
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