(News Bulletin 247) – While confirming its ‘buy’ recommendation on Geberit, Stifel adjusts its target price from 555 to 545 Swiss francs, mentioning very strong interest in the group’s products and solutions observed during a trade fair in Frankfurt.
The broker also highlights various growth initiatives presented by CEO Christian Buhl, reminding him of former CEO Albert Baehny’s program which resulted in higher growth rates.
After the publication of 2022 results, Stifel adjusted its estimates for the Swiss manufacturer of sanitary equipment (-1% for sales in 2023 and 2024 mainly due to currency effects, -2% and -5% for EPS ).
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