Beiersdorf: shares drop after UBS downgrade
(CercleFinance.com) - Shares in Beiersdorf are currently down 1.
8% to 88.5 euros on Monday after UBS downgraded the stock from "neutral" to "sell" on 2019 expectations that look "too high."
"Beiersdorf increasingly relies on promo to drive top-line. This looks unsustainable and poses downside risk to margins," the broker warns in a note.
UBS also slashed its target price for the share of the maker of Nivea skin care products from 94 euros to 85 euros.
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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.
8% to 88.5 euros on Monday after UBS downgraded the stock from "neutral" to "sell" on 2019 expectations that look "too high."
"Beiersdorf increasingly relies on promo to drive top-line. This looks unsustainable and poses downside risk to margins," the broker warns in a note.
UBS also slashed its target price for the share of the maker of Nivea skin care products from 94 euros to 85 euros.
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.