Geberit: Stifel maintains buy rating
(CercleFinance.com) - Stifel still recommends investors buy Geberit shares with a target price of 555 Swiss francs.
Although Geberit achieved an EBITDA margin of 26.8% in FY 2022, which was slightly below expectations, the analyst says that the -5%/-1% difference in absolute EBITDA in Q4 was more than offset "by extraordinary tax effects, resulting in a bottom line beat of +5%/+25%".
For Stifel, Geberit has defined two guiding principles for 2023: Strategic stability and operational flexibility.
"The primary objective is again to perform strongly in all markets and, as in previous years, to gain further market shares", the analyst notes.
The consensus expects an organic growth rate of +1.5% for FY 2023, compared to Stifel's estimate of +0.6%. "EBITDA margin of 28.6% is forecast," continued the analyst, for whom today's news is unlikely to lead to significant changes in the consensus.
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.
Although Geberit achieved an EBITDA margin of 26.8% in FY 2022, which was slightly below expectations, the analyst says that the -5%/-1% difference in absolute EBITDA in Q4 was more than offset "by extraordinary tax effects, resulting in a bottom line beat of +5%/+25%".
For Stifel, Geberit has defined two guiding principles for 2023: Strategic stability and operational flexibility.
"The primary objective is again to perform strongly in all markets and, as in previous years, to gain further market shares", the analyst notes.
The consensus expects an organic growth rate of +1.5% for FY 2023, compared to Stifel's estimate of +0.6%. "EBITDA margin of 28.6% is forecast," continued the analyst, for whom today's news is unlikely to lead to significant changes in the consensus.
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.