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Fly News Breaks for July 31, 2019
MDLZ
Jul 31, 2019 | 08:54 EDT
Buckingham analyst Eric Larson raised his price target on Mondelez shares to $62 from $57 following the company's "impressive" Q2 sales growth, noting that its organic revenue growth is accelerating and margin visibility is improving. While the stock is still "relatively expensive" on an EV/EBITDA valuation, Larson said there could be conservatism in his sales estimates and he keeps a Buy rating on Mondelez shares.
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