Danone: Liberum raises target price
(CercleFinance.com) - Liberum reiterates its "buy" recommendation on the Danone share, having raised its corresponding target price from 80 euros to 90 euros, while nudging up its 2019-21 estimates of 1%, "post a solid 1H'19 which showcased a faster pace of margin delivery".
"Danone remains on the path of profitable, sustainable growth. The group has “decoupled” the mid-term growth agenda from its immediate efficiency plans and is focused on driving sustainable underlying profits," the broker points out.
Liberum also points out that the agri-food group targets five billion euros in sales from plant-based products by 2025, which provides a solid growth driver, particularly in international markets
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