Mondelez price target lowered to $69 from $75 at BofA

BofA lowered the firm’s price target on Mondelez (MDLZ) to $69 from $75 and keeps a Buy rating on the shares. The company’s “disappointing” Q3 update “likely offered a glimpse of what’s to come from consumer staples” over the next few weeks, says the analyst, who doesn’t think Mondelez is alone in needing to address the balance of FY25 demand and earnings environment. The firm’s revised target reflects lower FY26 estimates and a lower multiple, the analyst noted.