Lindt: stock up with Berenberg now a buyer

(CercleFinance.com) - The Lindt & Sprüngli is one of the sharpest risers in the SMIM Swiss mid-cap index on Wednesday after Berenberg upgraded the share, with it now adopting a buy range on the upmarket chocolate maker.


The confectioner's ordinary share is currently up 1.1% at 91,300 Swiss francs, while the Swiss market is up just 0.5%.

This morning Berenberg upgraded its hold rating to buy, with a new target price of 97,500 Swiss francs, against 80,000 Swiss francs previously.

"At a time when the market is nervous about top-line prospects for packaged food peers... we believe Lindt offers the consistency and resilience that investors seek, despite the premium valuation," analysts say.


Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.