(News Bulletin 247) – While confirming its ‘hold’ recommendation on Geberit, Stifel lowers its price target from 530 to 460 Swiss francs, in the wake of a reduction in its 2023-24 EPS estimates of 9% and 16 % for the Swiss manufacturer of sanitary equipment.
Returning to last week’s half-year publication, the broker said it was ‘impressed by Geberit’s ability to maintain margins at a premium level, despite significant volume declines’.
“Nevertheless, as we fear that the challenges in its most important market of Germany could last longer, the upside potential for Geberit shares seems limited”, he nuances.
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