Stifel lowered the firm Price target to Mondelez (Mdlz) up to $ 70 from $ 82 and maintains a purchase rating for shares. The company, which maintains a neutral weighting for the food group, says that the group’s valuation discount on historical levels mainly reflects the weak perspectives of revenue and the reinvestment requirements that press the margins. Although the valuation remains convincing in relation to the history of food stocks, the firm remains cautious, given the uncertainty in the rate of revenue growth by 2025, emphasizing that it estimates the growth of 3% of EPS by 2025 in group constant currency, supported by 2% organic sales, partially compensated by margin compression due to inflation and higher levels of investment.

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