(News Bulletin 247) – Barclays reaffirms its ‘weight online’ recommendation and adjusts its price target from 71 to 72 euros on Henkel, in the wake of an increase in its estimates for the German group of daily consumer products.
The broker has indeed raised its EBIT margin forecast by around 60 basis points for 2023 and around 40 basis points for the following years, leading to an increase in expected EPS of 5% this year and 3 % from 2024.
“We expect volumes in consumer goods to turn positive in the fourth quarter of 2023, which could help support sentiment on the record,” Barclays adds in the summary of its research note.
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