BofA analyst Peter Galbo raised the firm’s price target on Mondelez to $84 from $80 and keeps a Buy rating on the shares as the analyst took over lead coverage of the stock. The firm pushed out its base year for valuation to 2026 given what it views as “idiosyncratic events in cocoa inflation” in 2025. Recent stock pressure reflects cocoa volatility as well as North America re-acceleration skepticism, which the firm argues “presents an attractive opportunity at current levels.”
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