Danone: stock falls after broker downgrade
(CercleFinance.com) - The Danone share is one of the biggest fallers in the CAC 40 index on Friday after Deutsche Bank downgraded it from "buy" to "hold," having cut its corresponding target price from 85 euros to 64 euros.
Its share price was down nearly 2% in early afternoon trading, while the CAC had lost just 0.3%. Note that the share has fallen by over 26% YTD.
While acknowledging that the Danone share has become "cheap" relative to its peers, Deutsche Bank says that it expects better prospects for earnings growth over the long term.
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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.
Its share price was down nearly 2% in early afternoon trading, while the CAC had lost just 0.3%. Note that the share has fallen by over 26% YTD.
While acknowledging that the Danone share has become "cheap" relative to its peers, Deutsche Bank says that it expects better prospects for earnings growth over the long term.
Copyright (c) 2020 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.