Barry Callebaut: UBS cuts target price
(CercleFinance.com) - UBS maintains its buy rating on the stock, although has reduced its target price for it to 2050 CHF (from 2250 CHF), ahead of a meeting with group management.
The analyst believes that confidence has to be renewed.
"Never has a CMD (due 01 November) of Barry been so important for investors", UBS says.
The Swiss chocolate maker said that it is continuing its efforts to achieve stable volume growth for FY 2022-23, and remains confident that it will deliver solid operating profit.
Note that Barry Callebaut has announced new MT forecasts (2023-24 to 2025-26), including of 4% to 6% average growth in volumes and 8% to 10% growth in EBIT in local currencies, with a further improvement in ROIC.
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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.
The analyst believes that confidence has to be renewed.
"Never has a CMD (due 01 November) of Barry been so important for investors", UBS says.
The Swiss chocolate maker said that it is continuing its efforts to achieve stable volume growth for FY 2022-23, and remains confident that it will deliver solid operating profit.
Note that Barry Callebaut has announced new MT forecasts (2023-24 to 2025-26), including of 4% to 6% average growth in volumes and 8% to 10% growth in EBIT in local currencies, with a further improvement in ROIC.
Copyright (c) 2023 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.