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Henkel: Bryan Garnier initiates coverage with 'buy' rating.

(CercleFinance.com) - Bryan Garnier has initiated its coverage of the Henkel stock with a "buy" rating and a fair value of 139 euros, ahead of the group's quarterly results; the broker says that “The forthcoming earnings publication on 14th November could provide an attractive entry point.

"In a slowing Food and HPC sector, Henkel's very resilient growth profile stemming from a combination of defensive HPC businesses and cyclical adhesive activities provides the group refuge stock status," the broker underlined.

The broker adds that this resilience, backed by strict cost control and a strong balance sheet, opens the door for the German group to make potential major acquisitions - which, amongst others, operates the brands Mir, Fa and Schwarzkopf.

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