Lindt & Sprungli: UBS upgrades to 'neutral'

(CercleFinance.com) - UBS upgraded Lindt & Sprungli to "neutral" from "sell", saying the Swiss chocolate maker's momentum is now "improving".


The brokerage, which raised its price target to 78,500 Swiss francs from 67,000 Swiss francs, said the upgrade reflects improving chocolate markets and a "reasonable" valuation.

The registered shares of Lindt - which are traded on the SIX Swiss Exchange market - were down 0.5% at 79,700 Swiss francs on Friday.

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