(News Bulletin 247) – Credit Suisse maintains its outperformance rating on Haleon stock, with a price target of £376.
According to the analyst, Haleon has more attractive exposure than Kenvue, one of its closest peers and future J&J spin-off into consumer healthcare. As a reminder, Haleon is for its part the fruit of a recent spin-off from GSK.
“Our analysis reinforces our view of Haleon as a higher-growth, better-invested (market share gain, marketing spend) consumer healthcare company; it is also benefiting from strong momentum following portfolio changes/splitting and its position as the world’s No. 1,” underlines Credit Suisse.
The analyst finally reports that Haleon stock is currently trading on an EV/EBITDA and a 2023E P/E of 14x and 17x, compared to European base values at c15x and c22x, respectively.
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