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De' Longhi: shares lose ground after analyst downgrade

( - 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.

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