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Fly News Breaks for May 3, 2017
MDLZ
May 3, 2017 | 09:23 EDT
Deutsche Bank analyst Rob Dickerson upgraded Mondelez to Buy from Hold and raised his price target for the shares to $51 from $49 following the company's Q1 earnings report. The stock should not be trading in-line with the U.S.-based food group average, Dickerson tells investors in a research note. After organic sales accelerated in the quarter, the risk to 2017 has been decreased, the analyst argues. He now believes 10% base business earnings growth in 2018 and 2019 is highly likely.
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