Signify: Credit Suisse raises price target
(CercleFinance.com) - Credit Suisse raised its price target on Signify to 32 euros from 19 euros, saying that the Dutch lighting group is improving its positioning.
In a note to clients, the brokerage firm justified the move by the company's "substantially improved competitive position" in North America, as a result of the Cooper Lighting acquisition.
The good news, however, looks priced-in, Credit Suisse pointed out, maintaining its "underperform" rating 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.
In a note to clients, the brokerage firm justified the move by the company's "substantially improved competitive position" in North America, as a result of the Cooper Lighting acquisition.
The good news, however, looks priced-in, Credit Suisse pointed out, maintaining its "underperform" rating on the stock.
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.