Knorr-Bremse: Oddo cuts target price
(CercleFinance.com) - Following the German food and beverage group's Q4 publication, Oddo has reduced its EPS estimates by around 8%-9%.
Analysts are now expecting organic sales growth of 9.6% in 2021, followed by 7.5% in 2022, the broker says.
Oddo believes that the group is still well managed and well positioned, and stresses that cost control remains one of the strong points and has resulted in several pleasant surprises in 2020.
However, Covid continues to weigh on performance and the broker says that the arrival of a new CEO could bring new impetus.
In all, Oddo maintains its "neutral" rating on the stock and has cut its corresponding target price to 109 euros, from 114 euros previously.
The share is down almost 2.5% in the first hour of trading on Friday in Frankfurt.
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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.
Analysts are now expecting organic sales growth of 9.6% in 2021, followed by 7.5% in 2022, the broker says.
Oddo believes that the group is still well managed and well positioned, and stresses that cost control remains one of the strong points and has resulted in several pleasant surprises in 2020.
However, Covid continues to weigh on performance and the broker says that the arrival of a new CEO could bring new impetus.
In all, Oddo maintains its "neutral" rating on the stock and has cut its corresponding target price to 109 euros, from 114 euros previously.
The share is down almost 2.5% in the first hour of trading on Friday in Frankfurt.
Copyright (c) 2021 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.