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Danone: Société Générale raises target price to 80 euros.

(CercleFinance.com) - Maintaining its buy rating on the stock Société Générale (SG) has raised its 12-month target price from 75 euros to 80 euros (+6.

Analysts have hailed upbeat quarterly sales, as well as speculation about management of the French agri-food group.

SG highlights that Danone's organic growth has significantly exceeded the consensus in Q3, reaching 4.7%, against 2.8% expected. While the take-off of baby food in China has contributed a lot, pleasant surprises also came from other regions - for example, Europe, as well as from WhiteWave, a recent US acquisition that initially led to some skepticism from the market.

“We expect top-line momentum to build and think the group's 2020 targets of 4-5% OG and >16% EBIT margins look more credible,” SG's report says.

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