Campari: Stifel upgrades stock
(CercleFinance.com) - Stifel has upgraded Campari shares from "hold" to "buy", following a wave of selling after the company's quarterly publication, albeint with a target price trimmed from E12.
5 to E12.3 (cp: E10.2, -0.6%), which still represents 19% upside potential for the share.
"Top-line momentum troughed in 3Q23, in our view, on high comps and
very unusual weather conditions in Italy", the broker argues.
Stifel has reduced its earnings estimates for the Italian spirits house by an average of 3%, which is less than the share price's fall the previous day - it therefore recommends "taking advantage of this window".
Copyright (c) 2023 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.
5 to E12.3 (cp: E10.2, -0.6%), which still represents 19% upside potential for the share.
"Top-line momentum troughed in 3Q23, in our view, on high comps and
very unusual weather conditions in Italy", the broker argues.
Stifel has reduced its earnings estimates for the Italian spirits house by an average of 3%, which is less than the share price's fall the previous day - it therefore recommends "taking advantage of this window".
Copyright (c) 2023 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.