Danone: in anticipation, Barclays cuts target price
(CercleFinance.com) - Danone has confirmed that its number 2 director, Cécile Cabanis, who will be replaced internally by Juegen Esser, Barclays reports.
New appointments have also been announced - an operations director and two regional directors, although Barclays says, "We would like to see Danone go further and faster". The details of the plan are expected to be revealed over the coming months.
"We have long felt Danone's portfolio is much better than the valuation suggests, but the question remains whether the current management team can unlock the value," it adds.
In these conditions, the analyst maintains a "neutral" rating on the share and reduces his corresponding target price to 65 euros, vs. 70 euros previously.
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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.
New appointments have also been announced - an operations director and two regional directors, although Barclays says, "We would like to see Danone go further and faster". The details of the plan are expected to be revealed over the coming months.
"We have long felt Danone's portfolio is much better than the valuation suggests, but the question remains whether the current management team can unlock the value," it adds.
In these conditions, the analyst maintains a "neutral" rating on the share and reduces his corresponding target price to 65 euros, vs. 70 euros previously.
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.