(News Bulletin 247) – Pending the next quarterly activity update on April 26, Stifel reaffirms its ‘buy’ recommendation on Beiersdorf and raises its price target from 120 to 132 euros, to reflect the sector’s revaluation since the beginning of the year.
The broker is raising its 2023-25 sales and operating profit (EBIT) projections for the German cosmetics group by 1%, reflecting a stronger start to 2023 for its Nivea and Derma businesses.
He anticipates organic growth for the consumer division of around 9% for the first quarter and 7% for all of 2023, above the target of growth ‘in the middle of the range at one. group number.
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