Danone: Oddo reduces target price
(CercleFinance.com) - Oddo confirms its "outperform" rating on Danone shares, albeit with a reduced target price of 64 euros (from 71 euros).
With Q3 results due to be published at the end of October, the broker expects sales growth of 13.6% (to 6998 million euros), driven by a +6.7% currency effect and organic growth of +6.9%.
In short, analysts say that the main message from their contact with the company is that Q3 should not be very different from Q2.
They are positive as they expect a refocusing (of each business unit and later of the group) that will enable the operational footprint (ranges, brands, channels, countries) to be deployed in a more balanced and agile manner and thereby trigger a rerating.
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