As previously reported on Tuesday, Wells Fargo analyst Chris Carey downgraded Mondelez (MDLZ) to Equal Weight from Overweight with a price target of $61, down from $74. The firm says Mondelez is executing amongst the best in Staples, but the problem is that the company also has amongst the worst macro headwinds in all of Staples too, as exceptionally challenging commodity headwinds, which it estimates could be +17% and +12% to COGS in 2025 and 2026, along with a worsening FX backdrop in many key markets namely in Latin America and Europe, create a dynamic whereby Wells now finds itself -6% and -11% below Street consensus for 2025 and 2026.
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Read More on MDLZ:
- Mondelez price target lowered to $71 from $78 at Citi
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