De' Longhi: shares lose ground after analyst downgrade
(CercleFinance.com) - De' Longhi shares are down nearly 1% at 24.
1 euros on Wednesday after an analyst downgraded the stock of the Italian appliance maker.
"De' Longhi is well positioned in the structurally growing coffee segment and achieves steady market share gains," Berenberg said in a note to clients.
"However, growth at group level has been diluted in recent years by increased competition and a softer market for food preparation," it said.
Berenberg has also trimmed its target price on the share, from 28 euros to 27 euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.