Mondelez up after Jefferies upgrades to 'buy', raises PT

** Shares of Cadbury parent Mondelez International MDLZ.O up ~2% at $68.80 in early trading

** Brokerage Jefferies raises rating to "buy" from "hold", hikes PT to $78 from $66

** While U.S. retail sales data suggests a still pressured consumer, we believe Europe dynamics, strong execution, and an improving cocoa outlook position MDLZ well for profit upside in FY26 and beyond, Jefferies says

** Adds, categories such as biscuits also accelerated in Europe, with volumes inflecting positive in February and continuing to build, pushing sales growth

** Mondelez has been outperforming peers in terms of revenue growth management, driven by strengths in innovation, channel mix, pricing, promotion and price-pack architecture - strategically tailoring product sizes and prices to consumer needs - Scott Marks, analyst with Jefferies

** Twenty of 29 brokerages rate the stock "buy" or "higher", 8 "hold" and one "strong sell"; their median PT is $73, as per estimates compiled by LSEG

** Up to last close, MDLZ was up about 13% YTD