Lindt & Sprüngli: shares up after a broker upgrade.
(CercleFinance.com) - Lindt & Sprüngli shares are up 1.
7% at 65,330 Swiss francs on Monday morning after UBS upgraded the stock from "neutral" to "buy," while raising its target price to 75,000 Swiss francs, from 66,000 Swiss francs.
In a research report, UBS analysts say they have become more positive towards the stock after two years of underperformance, seeing the chocolate maker as a "structural winner."
The brokerage firm expects Lindt's organic sales growth to accelerate significantly to 7% year-on-year in 2018 thanks to its premium product offering.
"Lindt's sales growth should be stronger than the market assumes, given its products are perceived as an indulgence," UBS said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
7% at 65,330 Swiss francs on Monday morning after UBS upgraded the stock from "neutral" to "buy," while raising its target price to 75,000 Swiss francs, from 66,000 Swiss francs.
In a research report, UBS analysts say they have become more positive towards the stock after two years of underperformance, seeing the chocolate maker as a "structural winner."
The brokerage firm expects Lindt's organic sales growth to accelerate significantly to 7% year-on-year in 2018 thanks to its premium product offering.
"Lindt's sales growth should be stronger than the market assumes, given its products are perceived as an indulgence," UBS said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.