Henkel: Jefferies raises target price

(CercleFinance.com) - Jefferies has reaffirmed its 'buy' recommendation on Henkel shares, raising its target price from E83 to E86, anticipating volume growth in the consumer business of +1% in 2024, compared with a target of around -1%.


The gradual improvement in consumer volume growth remains the key indicator", believes the broker, who sees this rising from -2.6% in the Q4 2023 to -2% in Q1 2024, a figure above its previous estimates.

Volumes in adhesives will probably experience one less day of activity (no impact on consumer goods), but should demonstrate their relative non-cyclicality, Jefferies adds in its note on the German consumer goods group.


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