Mondelez price target raised to $84 from $80 at Barclays

Barclays raised the firm’s price target on Mondelez to $84 from $80 and keeps an Overweight rating on the shares. The key takeaway from Mondelez’s Q4 results is the company’s expectation to deliver on its long-term organic sales and earnings algorithm in 2024 despite having divested developed market gum in 2023, expected temporary pricing-related volume disruption, higher cocoa costs and continued brand reinvestment, the analyst tells investors in a research note.