Signify: Credit Suisse cuts target price
(CercleFinance.com) - While maintaining its "neutral" rating on Signify shares, Credit Suisse has reduced its target price for them to 40 euros, to reflect an adjustment of its earnings expectations and more conservative DCF assumptions.
The broker is leaving its 2022 estimates largely unchanged, although is reducing its 2023 adjusted EBITA forecast by around 4% to reflect potential cyclical risks in Europe.
However, Credit Suisse maintains a neutral rating on the Dutch lighting solutions provider's stock at this stage, as it sees cyclical risks in revenue offset by the share's undemanding valuation.
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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.
The broker is leaving its 2022 estimates largely unchanged, although is reducing its 2023 adjusted EBITA forecast by around 4% to reflect potential cyclical risks in Europe.
However, Credit Suisse maintains a neutral rating on the Dutch lighting solutions provider's stock at this stage, as it sees cyclical risks in revenue offset by the share's undemanding valuation.
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.