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Fly News Breaks for January 22, 2020
NOMD
Jan 22, 2020 | 17:24 EDT
Jefferies analyst Rob Dickerson initiated coverage of Nomad Foods with a Buy rating and $21 price target. The analyst cites the company's position as the largest pure-play frozen food company in W. Europe with organic sales growth of about 2% over the past 2 years. Dickerson also cites the 200bps operating margin expansion for Nomad Foods as well as its management being the "best of class" in its peer group. The analyst further notes the 15% relative price-to-earnings discount to the company's peer group average.
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