Beiersdorf: Berenberg still a seller, but raises target
(CercleFinance.com) - Berenberg reiterates its "sell" rating on the Beiersdorf stock, although has raised its target price from 80 euros to 85 euros, after the German cosmetics group reported a solid second quarter.
The broker points out "Good weather in Europe, recovery of NIVEA deodorant sales, a weak comparative owing to the cyber attack in Q2 2017 and super-premium product launches for La Prairie."
"Furthermore, benefits in TESA from buoyant automotive and electronic industries have continued with management's prediction of a market slowdown failing to materialise," it continues.
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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 broker points out "Good weather in Europe, recovery of NIVEA deodorant sales, a weak comparative owing to the cyber attack in Q2 2017 and super-premium product launches for La Prairie."
"Furthermore, benefits in TESA from buoyant automotive and electronic industries have continued with management's prediction of a market slowdown failing to materialise," it continues.
Copyright (c) 2018 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.