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Beiersdorf: Oddo confirms rating after sales announced

(CercleFinance.com) - Beiersdorf's 2019 sales rose by 5.
8%, albeit a tad short of the consensus of 6.0%.
Q4 growth reached 3.5% on a like-for-like basis. Oddo says that this is below expectations on Tesa and for the Consumer business segment.

Oddo notes a slowdown in Q4 at its Consumer business segment and La Prairie and says that Tesa is down for the second consecutive quarter. For La Prairie, the landing continues.

The broker confirms its Reduce rating on the share, while maintaining its target price of 88 euros (17% downside potential).

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