Deutsche Bank Reinstates Mondelez International (MDLZ) at Hold
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Deutsche Bank reinstated coverage on Mondelez International (NASDAQ: MDLZ) with a Hold rating and a price target of $46.
Analyst Mario Contreras said, "We believe Mondelez has solid LT potential incl. good visibility on margins led by manufacturing modernization, ZBB, and global shared services. However, we remain concerned with near-term top line challenges and emerging markets volatility. We see relatively limited upside to current valuation (21x C2017 P/E) and thus retain a HOLD opinion."
Shares of Mondelez International closed at $44.01 yesterday.
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