Signify: UBS lowers target price
(CercleFinance.com) - UBS underlines the possible technical rebound of the stock, but confirms the group's structural problems.
The analyst remains neutral on the stock, but lowers his target price to E23 (from E30).
"The shares have sold off and valuation looks cheap raising bouncing probabilities. Structurally however things are unchanged. Hence still our Neutral rating" UBS says.
The group has renewed its annual target of an operating margin of between 10% and 10.5%.
Signify believes that the weakness of its lighting activities for professionals, both in Europe and China, should be more than offset by the strength of the professional market in America and the consumer market in general.
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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.
The analyst remains neutral on the stock, but lowers his target price to E23 (from E30).
"The shares have sold off and valuation looks cheap raising bouncing probabilities. Structurally however things are unchanged. Hence still our Neutral rating" UBS says.
The group has renewed its annual target of an operating margin of between 10% and 10.5%.
Signify believes that the weakness of its lighting activities for professionals, both in Europe and China, should be more than offset by the strength of the professional market in America and the consumer market in general.
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.