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Danone: Oddo BHF still a buyer; stock undervalued

( - Oddo BHF has reinstated its buy rating on the Danone stock, along with its target price of 81 euros, highlighting the sharp rebound of the Avon (+14%) and Coty (+7.
5%) shares following comments made by Bill Miller, judging both these shares as "heavily undervalued".

The broker believes renewed interest from investors in discounted stocks in the HPC Food sector could benefit Danone, even though the Danone stock is not one that has been the most sanctioned, said analysts.

Indeed, Oddo BHF points out that trading at a 2019 P/E of 16.6x, the French agrifood group is discounted by 22% compared to European peers in its HPC Food coverage scope.

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