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Shares of Mondelez Int'l.  (MDLZ) - Get Mondelez International, Inc. Class A 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.

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

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