Geberit: Stifel trims target price
(CercleFinance.com) - While confirming its "buy" rating on Geberit shares, Stifel has trimmed its target price for them from 555 Swiss francs to 545 Swiss francs, citing strong interest in the group's products and solutions observed at a trade fare in Frankfurt.
The broker also highlights various growth initiatives presented by CEO Christian Buhl, reminding him of former CEO Albert Baehny's program that resulted in higher growth rates.
After 2022 earnings call, Stifel has adjusted its estimates for the Swiss sanitary equipment manufacturer (-1% for 2023 and 2024 sales, mainly due to currency effects, and -2% and -5% for corresponding EPS).
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