Philips: Société Générale upgrades stock
(CercleFinance.com) - Société Générale upgraded its rating on Philips shares from "hold" to "buy" on Tuesday, mainly due to valuation issues.
At current levels, analysts believe that the stock is particularly undervalued and that it already incorporates all the bad news, a viewpoint reflected in their model (which shows forecasts well below consensus).
SG points out that concerns about the Dutch group's respiratory product recall should ease from Q3 onwards, which should enable the healthcare equipment maker to revive its respiratory business.
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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.
At current levels, analysts believe that the stock is particularly undervalued and that it already incorporates all the bad news, a viewpoint reflected in their model (which shows forecasts well below consensus).
SG points out that concerns about the Dutch group's respiratory product recall should ease from Q3 onwards, which should enable the healthcare equipment maker to revive its respiratory business.
Copyright (c) 2022 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.