Morgan Stanley raised the firm’s price target on Mondelez (MDLZ) to $70 from $66 and keeps an Overweight rating on the shares. The firm believes the market is overly focused on pricing rollback risk, while underestimating the earnings recovery from cocoa normalization beginning in the second half of 2026 and accelerating into 2027, says the analyst, who elevates the stock to a Top Pick.
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