Barry Callebaut: UBS maintains buy rating

(CercleFinance.com) - UBS confirms its buy rating on the Swiss chocolate maker's stock with a price target of 2,500 Swiss francs (cp: 1,950 Swiss francs, -0.
4%).

"After the sound EBIT beat in H1, we see low to mid single digit upside risk to consensus EBIT expectations," the broker said.

As the group's product range is improving, analysts have slightly increased their FY2023E EPS by +2%.

Note that in mid-January Barry Callebaut announced new three-year medium-term guidance for 2023-24 to 2025-26, consisting of average volume growth of +4 to 6% and EBIT growth of +8 to 10% in local currencies, with further improvement in ROIC.


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