Mondelez International Inc: Piper Sandler Raises Price Target Amid Strong Buy Rating

By Don Francis, Editor
July 30, 2023 6:37 AM UTC
Mondelez International Inc: Piper Sandler Raises Price Target Amid Strong Buy Rating

Piper Sandler's Michael Lavery raised their price target on Mondelez International Inc (NASDAQ: MDLZ) by 1.22% from $82.00 to $83.00 on 2023/07/28. The analyst maintained their Strong Buy rating on the stock.

Lavery's decision to raise the price target comes on the heels of Mondelez's Q2 earnings report, which the company delivered on July 27, 2023. The report showed a "beat," indicating that Mondelez outperformed expectations. Lavery noted that Mondelez's commitment to investing in its brands has given the company strong brand equity in the Consumer Staples sector. This, in turn, is driving pricing power and market share gains for the company.

In addition to Piper Sandler's update, Morgan Stanley's Pamela Kaufman also issued an update on MDLZ on July 28, 2023. Kaufman raised the price target by 3.80% and maintained their Strong Buy rating on the stock.

Currently, 71.43% of top-rated analysts rate MDLZ as a Strong Buy, while 28.57% consider it a Buy. No analysts see the stock as a Hold, and none recommend or strongly recommend selling the stock.

According to analysts, the consensus forecast for MDLZ's upcoming year is earnings per share (EPS) of $3.22. If the analysts' predictions are correct, this would represent a 6.71% increase in yearly EPS on a year-over-year basis.

Since Mondelez's last quarterly report, the stock price has risen by 44.49%. Year-over-year, the stock is up by 13.72%. However, during that same period, MDLZ has slightly trailed the performance of the S&P 500, which has risen by 13.88%.

Michael Lavery, the analyst who raised the price target, is ranked in the top 6% of Wall Street analysts by WallStreetZen. Lavery specializes in the Healthcare and Consumer Defensive sectors and has an impressive average return of 19.00% with a win rate of 60.61%.

Mondelez International, Inc. is a global snack food and beverage company. It manufactures, markets, and sells a wide range of products across various regions. Some of its notable brands include Cadbury, Milka, Oreo, Halls, and Tang. Mondelez serves a diverse range of retail outlets through various distribution channels, including e-commerce.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

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