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Fly News Breaks for December 11, 2019
MDLZ
Dec 11, 2019 | 16:48 EDT
Deutsche Bank analyst Steve Powers resumed coverage of Mondelez with a Hold rating and $57 price target. The analyst notes that the company's recent "reinvigoration program" has highlighted its position among the "fundamentally advantaged" names in U.S. Food and also cites its sizable emerging market footprint, but he expects its top line growth to normalize around 2% vs. 4% currently. Powers also sees the relative valuation gap on Mondelez shares relative to its megacap peers as warranted.
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