Lindt & Sprungli: UBS upgrades to 'neutral'
(CercleFinance.com) - UBS upgraded Lindt & Sprungli to "neutral" from "sell", saying the Swiss chocolate maker's momentum is now "improving".
The brokerage, which raised its price target to 78,500 Swiss francs from 67,000 Swiss francs, said the upgrade reflects improving chocolate markets and a "reasonable" valuation.
The registered shares of Lindt - which are traded on the SIX Swiss Exchange market - were down 0.5% at 79,700 Swiss francs on Friday.
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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 brokerage, which raised its price target to 78,500 Swiss francs from 67,000 Swiss francs, said the upgrade reflects improving chocolate markets and a "reasonable" valuation.
The registered shares of Lindt - which are traded on the SIX Swiss Exchange market - were down 0.5% at 79,700 Swiss francs on Friday.
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.