Mondelez price target raised to $85 from $75 at TD Cowen

TD Cowen analyst Brian Holland raised the firm’s price target on Mondelez to $85 from $75 and keeps an Outperform rating on the shares. The analyst said its quarterly results reinforce the company’s advantaged model in an increasingly challenging demand backdrop due to strong brands and global scale paired with above average brand reinvestment and solid op ex controls.