Deutsche Bank Trims MDLZ Price Target to $54 on Cost and Demand Concerns

Mondelez International, Inc. (NASDAQ:MDLZ) is included among the 14 Safest Stocks with Highest Dividends.

On March 30, Deutsche Bank lowered its price recommendation on Mondelez International, Inc. (NASDAQ:MDLZ) to $54 from $60. It reiterated a Hold rating on the shares. The firm said it is seeing “legitimate and widespread pressures building” across much of the consumer packaged goods sector, tied to the conflict in the Middle East. The analyst noted that these stocks underperformed in March, pointing to cost inflation concerns, the risk of demand weakening as consumers trade down, and unfavorable currency movements.

During the Q4 2025 earnings call, analysts raised concerns about chocolate pricing elasticity, how costs are being phased in, and whether the company can maintain volume growth in more challenging regions. The discussion reflected a more cautious tone, with limited visibility and rising competitive pressure coming up repeatedly. Management, in its prepared remarks, kept a measured and cautiously optimistic stance. During the Q&A, the tone shifted. Responses leaned more defensive, with frequent references to the need for flexibility in guidance given the uncertainty around how conditions could unfold.

Compared to the previous quarter, sentiment appeared more cautious. Much of that shift was linked to recent volatility in cocoa prices. Even so, management said it remains confident in performance across emerging markets and in the company’s longer-term margin recovery outlook.

Mondelez International, Inc. (NASDAQ:MDLZ) is a snack company focused on chocolate, biscuits, and baked snacks. It also operates in adjacent categories such as gum and candy, cheese and grocery, and powdered beverages.

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