Mondelez price target lowered to $78 from $80 at Citi

Citi lowered the firm’s price target on Mondelez (MDLZ) to $78 from $80 and keeps a Buy rating on the shares post the Q3 report. The company’s reiterated full-year outlook implies weaker than expected Q4 earnings and Mondelez flagged earnings will likely to be down year-over-year in 2025, the analyst tells investors in a research note. Citi reduced estimates to reflect cocoa inflation but thinks there is probably more upside potential to earnings over the coming year than the opposite.