Ontex: Credit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse has upgraded its rating on the share of Belgian hygeine product group Ontex from "underperform" to "neutral" although has cut its corresponding target price to 9.
70 euros (vs. 11 euros).
Analysts have reduced his 2020 EBITDA estimate to 235 million euros (vs. 248 million euros previously), although says that this remains "Broadly in line with an 11% reduction in our FY21 EPS estimate".
Credit Suisse says the Ontex team has taken a number of steps, rescaling the group's cost base, adjusting prices and even adding capacity, such as digital, and says it is "confident" that this will all improve the group's competitiveness.
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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.
70 euros (vs. 11 euros).
Analysts have reduced his 2020 EBITDA estimate to 235 million euros (vs. 248 million euros previously), although says that this remains "Broadly in line with an 11% reduction in our FY21 EPS estimate".
Credit Suisse says the Ontex team has taken a number of steps, rescaling the group's cost base, adjusting prices and even adding capacity, such as digital, and says it is "confident" that this will all improve the group's competitiveness.
Copyright (c) 2020 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.