Mondelez price target raised to $67 from $66 at Piper Sandler

Piper Sandler raised the firm’s price target on Mondelez (MDLZ) to $67 from $66 and keeps an Overweight rating on the shares. Strong EU pricing is in place, but cocoa costs remain the key to 2026 EPS growth, the firm says. While early indications suggest a potentially good 2025-2026 crop and Mondelez is hopeful for costs to fall, costs may remain volatile and stocks are low. Demand destruction may help bring relief, but it is too early to get a full picture of 2026 cocoa costs, adds Piper.