Is Wall Street Bullish or Bearish on Mondelez International Stock?

Valued at a market cap of $83.4 billion, Mondelez International, Inc. (MDLZ) is a global leader in the snacking industry, operating in more than 150 countries worldwide. The company is renowned for its diverse portfolio of iconic global and local brands, including Oreo, Ritz, LU, Clif Bar, Tate's Bake Shop, Cadbury Dairy Milk, Milka, and Toblerone.

Shares of the Chicago, Illinois-based company have underperformed the broader market over the past 52 weeks. MDLZ stock has fallen 3.8% over this time frame, while the broader S&P 500 Index ($SPX) has increased 16.5%. However, shares of the company are up 16.4% on a YTD basis, outpacing SPX's 8.3% rise.

Looking closer, shares of the Cadbury parent have lagged behind the State Street Consumer Staples Select Sector SPDR ETF’s (XLP) nearly 6% return over the past 52 weeks. 

Mondelez International has underperformed over the past year due to persistent cocoa cost inflation and continued volume weakness, particularly in North America. 

Nevertheless, the stock rose over 4% following its Q2 2026 results on Jul. 28. The company reported better-than-expected adjusted EPS of $0.73 and revenue of $9.36 billion. Investor sentiment was further boosted by the company raising its full-year organic net revenue growth outlook to at least 2%, supported by resilient demand, higher pricing, and strong regional organic revenue growth of 8.4% in Latin America and 7.1% in Asia, Middle East & Africa. 

Additionally, pricing in North America increased 2.2 percentage points while volumes rose 1.2 percentage points, and adjusted gross margin expanded by 20 basis points due to higher net pricing and lower manufacturing costs, reinforcing confidence despite higher raw material costs.

For the fiscal year ending in December 2026, analysts expect Mondelez International’s adjusted EPS to grow 4.1% year-over-year to $3.04. The company’s earnings surprise history is promising. It beat the consensus estimates in each of the last four quarters. 

Among the 23 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, two “Moderate Buys,” and eight “Holds.” 

This configuration is less bullish than three months ago, with 15 “Strong Buy” ratings on the stock.

On Jul. 29, BTIG analyst Rob Dickerson raised its price target for Mondelez International to $73 and maintained a “Buy” rating.

The mean price target of $67.50 represents a 7.4% premium to MDLZ’s current price levels. The Street-high price target of $74 suggests a 17.8% potential upside.