Mondelez International (MDLZ) Receives Price Target Increase After Strong Q2 Performance

By Don Francis, Editor
July 30, 2023 6:36 AM UTC
Mondelez International (MDLZ) Receives Price Target Increase After Strong Q2 Performance

Morgan Stanley's Pamela Kaufman raised their price target on Mondelez International Inc (NASDAQ: MDLZ) by 3.80% from $79.00 to $82.00 on July 28, 2023. The analyst maintained their Strong Buy rating on the stock.

Kaufman attributed the increase in price target to the "robust" organic sales growth that Mondelez delivered in its Q2 2023 earnings report, which was released the previous day. This strong performance accounted for the earnings per share (EPS) beat and management's increased guidance, leading to Morgan Stanley's positive outlook.

In addition to raising the price target, Morgan Stanley also raised their EPS forecasts for FY 2023 and FY 2024 by about 5%. Kaufman noted that despite the upward revision in guidance, the management's outlook still appears conservative.

Piper Sandler's Michael Lavery also issued an update on MDLZ on July 28, 2023. Lavery raised their price target by 1.22% and maintained their Strong Buy rating on the stock.

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

The consensus forecast among analysts is that MDLZ's upcoming year will deliver earnings per share (EPS) of $3.22. If the analysts' predictions prove accurate, MDLZ's next yearly EPS will be up by 6.71% on a year-over-year basis.

Looking at MDLZ's stock performance, it has seen a significant increase since its last quarterly report. The stock price is up 44.49%, while on a year-over-year basis, it has risen by 13.72%. However, during this period, MDLZ has slightly trailed behind the S&P 500, which has increased by 13.88%.

It's worth noting that Pamela Kaufman, the analyst who raised the price target on MDLZ, is ranked by WallStreetZen in the top 23% out of 4,285 Wall Street analysts. With an average return of 4.42% and a 54.00% win rate, Kaufman specializes in the Consumer Defensive sector.

Mondelez International, Inc. is a multinational food conglomerate that manufactures, markets, and sells snack food and beverage products across various regions. Its portfolio includes popular brands such as Cadbury, Milka, Oreo, and Halls, among others. The company serves a wide range of retail outlets through various channels, including direct store delivery, warehouses, and 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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