Philips: stock keeps 'buy' rating from Berenberg

(CercleFinance.com) - Stock of Philips is keeping its "buy" rating from Berenberg, the German broker said on Friday, as the Dutch group is finally "delivering" on its promises.


"While there has been a little growth disappointment in a few of Philips' divisions this year, we believe this will prove transient with better dynamics on the cards for 2019 and beyond," Berenberg says in a note to clients.

"Group fundamentals remain strong in our view, and we are pleased that management has reacted promptly to temporary headwinds to ensure that it delivers on its guidance promises," it adds.

Berenberg has a target price of 40 euros for the share.

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