Henkel: Stifel adjusts TP

(CercleFinance.com) - Stifel maintains its "hold" rating on Henkel shares, while nudging up its target price for them from E73 to E74, stating that it sees much stronger volume and sales momentum amongst its peers Beiersdorf and L'Oréal, on which it has buy rating.


Regarding Henkel, broker anticipates organic sales growth of 2.5% in Q3, "with a sequential moderation for both pricing gains and the rate of volume decline".

Stifel is slightly raising its 2023-24 EBIT projections for the German consumer staples group by 1%, "mainly reflecting slightly higher margin assumptions".


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