Mondelez: Mondelez Stock Downgrade As Snack Demand, Cocoa Volatility Cloud Growth

DA Davidson analyst Brian Holland on Thursday downgraded the shares of Mondelez International Inc (NASDAQ:MDLZ) from Buy to Neutral and raised the price forecast from $66 to $68.The analyst cited weaker U.S. snack demand, uncertainty in emerging markets, and volatility in cocoa prices as the reasons for the downgrade.While the stock has risen nearly 20% since early February, it's now trading above historical valuation levels.Mondelez's strong position in emerging markets has been a key growth driver, offering the highest composite GDP growth among U.S. food peers.However, short-term challenges such as global economic slowdown, trade tensions, inflation and geopolitical risks are dimming that outlook, noted the analyst.Also Read: FDA ...Full story available on Benzinga.com