(News Bulletin 247) – Stifel reaffirms its ‘hold’ recommendation on Henkel with an adjusted target price of 72 to 73 euros, the day after the publication of the results of the German group operating brands such as Le Chat, X-TRA or Loctite .
In the wake of management’s raising of annual objectives, the broker indicates that it is raising its operating profit assumptions (EBIT) for Henkel, by 4% for the current year and 1% for the 2024 and 2025 financial years.
Stifel, however, remains to ‘hold’ on Henkel, believing that ‘ongoing investor concerns about weak volumes should keep a lid on the stock for the time being’.
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