Piper Sandler yesterday raised the firm’s price target on Mondelez (MDLZ) to $67 from $66 and keeps a Neutral rating on the shares. Strong European pricing is in place, but cocoa costs remain the key to the company’s 2026 earnings growth, the firm said. 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, added Piper.
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