Opinions
Lorne Steinberg
Danone
BN-FP
PAST TOP PICK
Jul 28, 2021
(A Top Pick Jul 22/20, Down 2%) Disappointing so far. Compelling value. Sluggish execution. Management has been replaced. Great opportunity here, little downside risk, growing dividend, expanding margins. He's bullish.
N/A
Stock price when the opinion was issued
food processing
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(A Top Pick Dec 17/09. Up 7.63%.) French exchange. Good growth in developed markets and very strong growth in emerging markets. Made an acquisition in Russia that will cement their dairy business there. Strong balance sheet. Reasonably priced. Move to health and wellness will be a big beneficiary to them.
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BUY
Compared to Nestle or Unilever, he prefers Danone, #1 in both dairy and plant-based, cheaper. Over the last decade, Danone has maintained its #1 position but has lost market share, stock's not up at all, slow to innovate. Real catalyst is new CEO who's made sweeping changes that will boost top and bottom line growth.
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