(News Bulletin 247) – Deutsche Bank announced on Monday that it had raised its price target on Henkel from 55 to 60 euros while maintaining its ‘sell’ recommendation on the stock.
In a note released in the morning, the intermediary supports his decision by the good performance of the profit margins of the German group of consumer products.
It highlights in particular the more marked than expected recovery in its unit margin in adhesives, which it explains by the stabilization of market shares in the US market.
As a result, the analyst is revising its estimates for 2023 upwards in order to bring them to the top of the range of objectives targeted by the company.
DB nevertheless says it anticipates a decline in volumes and prices in the adhesives branch next year.
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