Philips: Berenberg raises target price
(CercleFinance.com) - Berenberg on Thursday raised its target pricet for the Philips share from 46 euros to 49 euros, maintaining a "buy" rating on the stock.
During its virtual capital markets day last week, Philips outlined its plan to achieve 5%-6% organic sales growth and 10% earnings growth from 2022, the German broker wrote in a note to clients.
"On paper, the plan looks attractive, but achieving it is arguably not a trivial matter", Berenberg warned in the report.
Philips shares are currently up 0.5%.
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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.
During its virtual capital markets day last week, Philips outlined its plan to achieve 5%-6% organic sales growth and 10% earnings growth from 2022, the German broker wrote in a note to clients.
"On paper, the plan looks attractive, but achieving it is arguably not a trivial matter", Berenberg warned in the report.
Philips shares are currently up 0.5%.
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.