Lindt: Morgan Stanley raises target price
(CercleFinance.com) - On Monday Morgan Stanley raised its target price for the Lindt & Sprüngli's share, citing the Swiss chocolate maker's growth.
The broker - which has an "overweight" rating on the stock - raised its target price to 8,200 Swiss francs, from 7,700 Swiss francs previously.
"Unusual for our sector, Lindt offers sustained developed market growth with peer-leading returns," it said in a note.
"Historically, it's been one of the best performers across our coverage and we see about 15% low beta total shareholder return (TSR) over the next 12 months, with positive operational momentum going forward," it added.
Lindt shares were up about 0.4% at 7,305 Swiss francs in afternoon trading in Zurich.
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