Beiersdorf: Jefferies confirms 'buy' rating
(CercleFinance.com) - Jefferies has reaffirmed its "buy" recommendation on Beiersdorf, raising its target price from E140 to E152 and adding the German cosmetics group's stock to its "franchise picks" in Europe.
" With the benefits of BEI's turnaround becoming evident, bullish medium-term guidance and ebullient communication, investors are concerned that the good news is fully priced in ," notes the broker.
" But we see more upside to top and bottom-line estimates and move 3%/6% ahead of cons FY24/25 EPS, with further upside from targeted M&A ".
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