Wrigley (Wm) Jr., which also processes packaged foods and meats, experienced a downslide in market ratings.
“In a research note published this morning, the analyst mentions that the downgrade in the rating is based on valuation and the company’s share price has reached the target price. WM Wrigley Jr continues to witness robust growth in Europe and the emerging markets, along with favourable currency effects, the analyst adds. The company’s stock has outperformed the food group as well as the broader market since the 3Q result announcement, Lehman Brothers says.”
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