Berenberg raised the firm’s price target on Mondelez (MDLZ) to $77 from $70 and keeps a Buy rating on the shares ahead of the Q1 report on April 29. The firm adjusted forecasts to reflect a relatively soft start to the year, as highlighted in softer grindings figures and retailer destocking in the U.S., which it says has been flagged by several companies in recent weeks.
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