Beiersdorf: Oddo says virus will have 'significant impact'
(CercleFinance.com) - This Friday an analyst at Oddo BHF confirms a "Reduce" rating on the share of Beiersdorf group, after it abandoned its 2020 guidance, while predicting a significant impact from the COVID 19 epidemic, combined with an inability to anticipate the impact that this will have over the rest of the year.
This abandoning of its guidance, although unsurprising, puts into perspective the defensive nature of a group that is considered as being less cyclical than those exposed to the luxury segment, the broker said.
Oddo BHF therefore confirms its target price of 88 euros, meaning downside potential of 2%. The share is currently down 0.3% at just over 89 euros in early trading in Frankfurt.
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.