(News Bulletin 247) – Stifel downgrades its recommendation on Geberit from ‘buy’ to ‘hold’ with a price target reduced from 545 to 530 Swiss francs, following a slight adjustment to its 2023-25 forecast for the supplier Swiss manufacturer of sanitary equipment.
Pointing to a solid performance of 18% of the title since the beginning of the year, outperforming the Swiss market, the broker believes that there is no longer enough upside potential in the short term and sees a major risk / challenge for the short-term volumes.
‘This is also linked to a weaker core market of Germany’, Stifel says, adding however that ‘if Germany is a strong headwind in the short term for Geberit, it could become a major plus point in the medium and long term. term’.
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