Mondelez price target raised to $83 from $82 at Piper Sandler

Piper Sandler raised the firm’s price target on Mondelez to $83 from $82 and keeps an Overweight rating on the shares. The company’s Q2 beat and the raised organic revenue growth and earnings growth guidance is likely conservative, he analyst tells investors in a research note. The firm believes Mondelez’s commitment to investing in its brands continues to give it some of the best brand equity in consumer staples, driving pricing power and share gains.