Piper Sandler analyst Michael Lavery raised the firm’s price target on Mondelez (MDLZ) to $66 from $64 and keeps a Neutral rating on the shares. The firm notes Mondelez reported 7c better than expected Q1 EPS and reiterated guidance. The company implemented significant pricing in Europe in Q1 with little disruption and with elasticities in-line with historical norm of -0.5. Cocoa is still elevated, and remains a risk for 2026, but costs for cocoa butter are falling, Piper adds.
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