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Danone: Barclays still says 'overweight' but cuts target

( - Barclays confirms its "overweight" recommendation on the Danone share, while reducing its target price from 90 euros to 84 euros, in the wake of Danone's limited reduction in its sales growth assumptions for 2019 and 2020.

"Danone is one of best ways in Europe to position for plant based growth," the broker notes, also underlining the improvements in its fresh dairy products in Europe and the strength of its babyfood (ELN) business in China.

"The issues in Q3 seem to be fairly isolated and are not new, but need to be addressed with urgency," Barclays adds. "Crucially ROIC momentum remains good," the group finally points out.

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