Philips: Berenberg raises target price
(CercleFinance.com) - Berenberg said that it is maintaining its "buy" rating on Philips shares and has lifted its corresponding target price to 40 euros from 36 euros, saying that the "sun is shining" for the Dutch health-technology company.
"Following encouraging first-quarter figures and our recent CFO roadshow, we are increasingly confident that Philips is poised to deliver attractive top-line growth and decent margin strides both for 2018 and beyond," the German broker said in a note sent to clients.
Berenberg said it has raised its earnings estimates by around 2% after first-quarter numbers were unveiled.
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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.
"Following encouraging first-quarter figures and our recent CFO roadshow, we are increasingly confident that Philips is poised to deliver attractive top-line growth and decent margin strides both for 2018 and beyond," the German broker said in a note sent to clients.
Berenberg said it has raised its earnings estimates by around 2% after first-quarter numbers were unveiled.
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.