De'Longhi: Berenberg still a buyer after quarterly results
(CercleFinance.com) - Berenberg maintains a "buy" rating on De'Longhi after the Italian appliance maker reported its third-quarter results.
"The third quarter demonstrated once again solid organic growth, and the outlook is encouraging implying margin expansion in the fourth quarter, the most important quarter for profits," the German broker said.
Berenberg adds: "following the recent share price weakness, the company now offers a more than 5% dividend yield from 2019 onwards."
In short, the broker appreciates De'Longhi's leading position in the coffee segment, which supports "steady organic growth." Its target price of 31 euros suggests upside potential of 37%.
Copyright (c) 2018 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.
"The third quarter demonstrated once again solid organic growth, and the outlook is encouraging implying margin expansion in the fourth quarter, the most important quarter for profits," the German broker said.
Berenberg adds: "following the recent share price weakness, the company now offers a more than 5% dividend yield from 2019 onwards."
In short, the broker appreciates De'Longhi's leading position in the coffee segment, which supports "steady organic growth." Its target price of 31 euros suggests upside potential of 37%.
Copyright (c) 2018 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.