Mondelez price target raised to $82 from $79 at Morgan Stanley

Morgan Stanley analyst Pamela Kaufman raised the firm’s price target on Mondelez to $82 from $79 and keeps an Overweight rating on the shares. “Robust” organic sales growth in Q2 drove an EPS beat and increased 2023 guidance “still appears conservative,” the analyst tells investors in a post-earnings note. Following the report, the firm raised its FY23 and FY24 EPS forecasts by about 5%, the analyst noted.