Mondelez price target raised to $86 from $78 at Mizuho

Mizuho raised the firm’s price target on Mondelez to $86 from $78 and keeps a Buy rating on the shares. The company’s Q1 upside and raise to fiscal 2023 guidance reinforced the firm’s view that stronger volume and mix since fiscal 2020 have not been solely a function of COVID demand, the analyst tells investors in a research note. The firm says Mondelez remains a top pick.