(News Bulletin 247) – UBS maintains its Buy recommendation on Barry Callebaut stock but slightly lowers its price target from 2,500 to 2,400 CHF.
“The situation remains difficult in the short term for good reasons, but the prospects for a recovery in volumes for the 24E financial year (from September) are intact”, specifies the analyst.
Note that in mid-January Barry Callebaut announced new three-year medium-term forecasts for 2023-24 to 2025-26, consisting of average growth of +4 to 6% in volumes and +8 to 10% in EBIT in local currencies, with a further improvement in ROIC.
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