Mondelez price target raised to $65 from $64 at Piper Sandler

Piper Sandler analyst Michael Lavery raised the firm’s price target on Mondelez (MDLZ) to $65 from $64 and keeps a Neutral rating on the shares. The firm says the company notched a better-than-expected start to the year, though macro uncertainty and planned reinvestment of savings from cocoa costs gave Management a conservative approach to its outlook, holding it steady.