Wells Fargo lowers price targets for Mondelez and Church & Dwight

Wells Fargo & Company has adjusted its price targets for two consumer staples companies, Mondelez International and Church & Dwight.

For Mondelez International, Wells Fargo lowered its price target to $65.00 per share from a previous target of $70.00. Despite this reduction, the firm maintained an ‘overweight’ rating on the snack and beverage company. Mondelez recently reported earnings per share of $0.73, exceeding the consensus estimate of $0.68, with revenue increasing 4.1% year-over-year to $9.36 billion.

Regarding Church & Dwight, Wells Fargo decreased its price target from $110.00 to $105.00. The brokerage continues to hold an ‘overweight’ rating on the stock. Other financial institutions have provided varying outlooks, with JPMorgan Chase & Co., Citigroup, and UBS Group maintaining neutral ratings, while Morgan Stanley set a higher target of $112.00.