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Geberit: Stifel downgrades stock

( - Stifel has downgraded its rating on Geberit shares from "buy" to "hold", reducing its target price for them from 545 Swiss francs to 530 Swiss francs, following a slight adjustment to its 2023-25 forecast for the Swiss sanitary equipment supplier.

Pointing to the stock's solid 18% YTD performance, which has outperformed the Swiss market, the broker believes that there is currently no longer sufficient upside potential and sees a major risk/challenge to volumes in the near term.

"This is also linked to a weaker main market in Germany," Stifel says, although adds that "as Germany is a huge headwind in the short term for Geberit, we explain why it could become a major bull case argument again in the mid- to long term".

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