Philips: Oddo BHF revises target price after Q3 disappoints
(CercleFinance.com) - After Q3 results that came in "under expectations" and were "disappointing," in particular impacted by FX factors, Oddo BHF today announces that it is reviewing some of its estimates for Philips, beginning with its target price.
Trimming the latter from 36 euros to 34 euros, the stock still has upside potential of 7%.
The broker has reduced its estimates for 2018 and 2019 by an average of 4.5%. The year 2018 includes much more negative FX factors than expected, as well as lower organic growth (4.7% vs. 5.1%) and its impact on the group's adjusted EBITA margin (13.1% vs. 13.3%). For 2019, the broker says that it is including the impact of a price war.
The analyst also maintains his "neutral" recommendation on the stock.
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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.
Trimming the latter from 36 euros to 34 euros, the stock still has upside potential of 7%.
The broker has reduced its estimates for 2018 and 2019 by an average of 4.5%. The year 2018 includes much more negative FX factors than expected, as well as lower organic growth (4.7% vs. 5.1%) and its impact on the group's adjusted EBITA margin (13.1% vs. 13.3%). For 2019, the broker says that it is including the impact of a price war.
The analyst also maintains his "neutral" recommendation on the stock.
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.