Morgan Stanley upgrades Mondelez to Top Pick on cocoa price deflation
ByAinvest
Monday, Mar 16, 2026 4:35 pm ET1min read
MDLZ--
Morgan Stanley has raised Mondelez to Top Pick citing cocoa deflation. Cocoa prices have declined 75% from their 2024 peak and are approaching levels not seen since 2023, leading to a significant margin inflection for both Mondelez and peers in H2 2024.
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