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Mondelez still a top pick at Wells Fargo

Apr. 29, 2020 1:52 PM ETMondelez International, Inc. (MDLZ) StockMDLZBy: Clark Schultz, SA News Editor
  • Wells Fargo keeps Mondelez International (MDLZ +0.5%) locked in as a top pick after taking in yesterday's Q1 earnings report.
  • Analyt John Baumgartner: "We exit pleased with mgmt’s intention to maintain brand reinvestment and seek share gains from smaller/compromised competitors. The market may fret about a possible Q2 yr/yr EPS decline on COVID but we see headwinds as temporary and easily outweighed by bullish multi-year growth potential and EPS upside vs. Street thru FY22E."
  • During Q1, Mondelez posted solid growth across developed and emerging markets, with volume, mix and pricing all moving in the right direction.
  • Previously: Organic sales sparkle at Mondelez (April 28)

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