Chr. Hansen: Barclays cuts target after profit warning
(CercleFinance.com) - Barclays cut on Friday its target price for Danish food ingredients maker Chr.
Hansen from 800 Danish kronor to 700 Danish kronor, one day after the company cut its outlook.
In a note to clients, the analysts said the group's warning has led them to reduce their earnings estimates by 4%.
However, Barclays maintains an "overweight" rating on the shares, believing the group will continue to generate "sector-leading growth."
"We think the fall in the company's share price after the warning provides a buying opportunity," it said.
After tumbling over 13% yesterday, the shares are down another 0.7% at 619.4 Danish kronor on Friday.
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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.
Hansen from 800 Danish kronor to 700 Danish kronor, one day after the company cut its outlook.
In a note to clients, the analysts said the group's warning has led them to reduce their earnings estimates by 4%.
However, Barclays maintains an "overweight" rating on the shares, believing the group will continue to generate "sector-leading growth."
"We think the fall in the company's share price after the warning provides a buying opportunity," it said.
After tumbling over 13% yesterday, the shares are down another 0.7% at 619.4 Danish kronor on Friday.
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.