Verallia: Berenberg lowers target price
(CercleFinance.com) - Berenberg announced on Friday that it had lowered its target price for Verallia shares from E44 to E36 following the profit warning issued by the glass packaging specialist at the beginning of the week.
The German broker - which maintains a buy recommendation on the stock - points out that Verallia's share price fell by 18% last Tuesday following the profit warning.
As a result of this fall, the gains posted by the share since it was upgraded to buy in February now stand at just 3% over the period, including dividends, it points out.
While the warning has led Berenberg to revise its forecasts for the French group downwards, it believes that Verallia remains well positioned to increase its capacity utilization rate over the coming months.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The German broker - which maintains a buy recommendation on the stock - points out that Verallia's share price fell by 18% last Tuesday following the profit warning.
As a result of this fall, the gains posted by the share since it was upgraded to buy in February now stand at just 3% over the period, including dividends, it points out.
While the warning has led Berenberg to revise its forecasts for the French group downwards, it believes that Verallia remains well positioned to increase its capacity utilization rate over the coming months.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.