Citi Raises Mondelez Price Target, Citing Growth in Emerging Markets and Pricing Power
Citi has lifted its price target for Mondelez International from $63 to $75, maintaining a Buy rating, as the snacking giant continues to show strong momentum in key markets and leverages effective pricing strategies. The revision reflects increased confidence in Mondelez’s global performance, particularly in emerging markets where consumer demand and brand equity remain robust.
The updated target follows an in-depth assessment of Mondelez’s fundamentals, including its consistent volume growth and ability to pass through price increases without significant demand erosion. According to Citi analysts, this signals an improved operating environment for large-scale food manufacturers, especially those with strong international footprints.
Mondelez, whose portfolio includes brands like Oreo, Cadbury, and Toblerone, has demonstrated resilient top-line growth driven by strong emerging market sales and successful execution of premiumization strategies. The company has also benefited from increased consumer snacking occasions and a focus on localized innovation to match regional taste preferences.
Citi notes that Mondelez has outperformed peers in key financial metrics, including organic revenue growth and margin stability. Its diversification across high-growth categories and geographies has proven to be a buffer against macroeconomic volatility and currency fluctuations—increasingly important for FMCG brands navigating inflationary pressures and shifting global trade dynamics.
The investment bank also emphasized Mondelez’s disciplined capital allocation strategy, highlighting recent acquisitions that align with its focus on expanding its snacking portfolio and bolstering digital and omni-channel reach. With improved supply chain efficiencies and cost optimization efforts underway, Mondelez is well-positioned to maintain profitability while investing in long-term brand equity.
For FMCG leaders, Mondelez’s trajectory underscores the growing importance of emerging markets, brand-led innovation, and pricing agility. As the sector continues to adapt to evolving consumer behaviors and input cost volatility, companies with strong global execution and portfolio balance are emerging as clear winners.