Mondelez Analysts Boost Their Forecasts After Upbeat Earnings

Core Insights - Mondelez International reported second-quarter adjusted EPS of 86 cents, exceeding analyst expectations of 79 cents per share [1] - Quarterly sales amounted to $8.343 billion, falling short of the analyst consensus estimate of $8.454 billion [1] - The company raised its quarterly dividend by 11%, increasing from 42.5 cents to 47 cents per share [1] Financial Performance - The strong profitability and cash flow generation were attributed to strategic growth initiatives, brand reinvestment, price execution, and cost discipline [2] - Mondelez shares increased by 3.2%, trading at $69.20 following the earnings announcement [2] Analyst Ratings and Price Targets - Piper Sandler analyst Michael Lavery maintained an Overweight rating on Mondelez and raised the price target from $76 to $78 [3] - JP Morgan analyst Ken Goldman also maintained an Overweight rating, increasing the price target from $72 to $73 [3]