Consumer goods giant Unilever (UL) spun off The Magnum Ice Cream Company (MICC) earlier this month, with a debut valuation north of $9B. While the listing in Amsterdam fell short of expectations, and there could be concerns about the popularity of sugary treats as health consciousness grows, the team at Deutsche Bank think the stock may still be worth a taste, Jack Denton of Barron’s writes. Deutsche Bank initiated coverage of Magnum with a rating of Hold and a target price of EUR 14.50. The stock was trading around EUR 13.30 in Amsterdam on Wednesday, implying a potential gain of more than 9% based on the Deutsche target, the author adds.
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