Shares of Mondelez Int'l.  (MDLZ) - Get Report were higher by 1.07% to $44.22 on Tuesday morning, following a rating upgrade to "Overweight" from "Neutral" at Piper Jaffray.

The firm raised its price target on the snack maker's stock by $1 to $49.

The rating change comes as the firm expects Mondelez to achieve 6% to 7% organic EBIT growth. Piper is also anticipating lower currency and input costs. Favorable sugar and cocoa costs will help drive margins forward.

Mondelez is the parent company behind the popular snack brands including Oreo, Chips Ahoy, Ritz, Honey Maid, and Wheat Thins.

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