Mondelez International, the Consumer Defensive sector company, was revisited by a Wall Street analyst on September 5. Analyst Megan Alexander from Morgan Stanley maintained a Buy rating on the stock and has a $73.00 price target.
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Megan Alexander’s rating is based on the positive sales trajectory of Mondelez International, particularly in the European market. The company’s overall sales increased by 6.6% year-over-year, showing an improvement from the previous period. This growth was notably driven by a significant rise in chocolate sales, which jumped 8.1% year-over-year, despite previous challenges due to high temperatures.
Additionally, Mondelez’s chocolate sales elasticity showed improvement, indicating better pricing power and consumer demand. Although the company experienced a slight decline in market share, particularly in the chocolate segment, the overall sales growth and improved elasticities suggest a strong market position. These factors combined contribute to Megan Alexander’s Buy rating for Mondelez International.
In another report released on September 4, Barclays also maintained a Buy rating on the stock with a $77.00 price target.