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Fly News Breaks for October 17, 2019
MDLZ
Oct 17, 2019 | 08:03 EDT
As previously reported, RBC Capital analyst Nik Modi initiated coverage of Mondelez with an Outperform rating and $66 price target. The analyst notes that the "material operating changes" and upgrades in capabilities made by the company's management over the past year will position it to deliver revenue growth rates that are near the upper end of the large-cap Consumer Staples sector range. Modi also contends that the long-term 3% revenue growth and high-single-digit earnings targets of Mondelez are "achievable with upside potential".
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